Del. M&A Case Clamps Down On MLP General Partner Liability

By Gail Weinstein, Warren de Wied, Steven Epstein and Philip Richter (November 22, 2019, 5:44 PM EST) -- Dieckman v. Regency GP LP et al., decided Oct. 29 by the Delaware Chancery Court, reflects the potential for general partners of master limited partnerships (i.e., publicly traded limited partnerships) to be subject to scrutiny and possible liability in connection with approving conflicted transactions. More broadly, the decision underscores the critical importance of clarity in drafting and compliance with the precise terms of agreements....

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