Chancery Decision Seeks to Further Clarify Operation of Del. Borrowing Statute

Barry Klayman & Mark Felger, writing in the Delaware Business Court Insider, discuss a recent decision by the Delaware Court of Chancery interpreting the state’s borrowing statute, which provides that a suit to enforce a cause of action arising outside of Delaware cannot be brought in a Delaware court after the expiration of the applicable Delaware statute of limitations or the statute of limitations of the state or country where the cause of action arose, whichever is shorter. The application of the borrowing statute has spawned different interpretations in the absence of further legislative action or binding judicial precedent.

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Mark E. Felger

Co-Chair, Bankruptcy, Insolvency & Restructuring

mfelger@cozen.com

(302) 295-2087

Barry M. Klayman

Member

bklayman@cozen.com

(302) 295-2035


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