Client Alerts

IMO Daniel Kloiber Trust U/A/D December 20, 2012

IMO Daniel Kloiber Trust U/A/D December 20, 2012,
C.A. No. 9685-ML,
Vice Chancellor Laster (Del. Ch. August 6, 2014)
 (PDF 316 KB)

The Delaware Supreme Court recently issued an order denying an interlocutory appeal of the opinion of Delaware Court of Chancery (the “Chancery Court”) in IMO Daniel Kloiber Trust U/A/D December 20, 2012 (“Kloiber”). In August of this year, the Chancery Court issued an opinion addressing the meaning of the term “exclusive jurisdiction” found in Section 3572(a) of Delaware’s Qualified Dispositions in Trust Act (the “Act”), which states that the Chancery Court shall have exclusive jurisdiction over any action brought with respect to a “qualified disposition”, and when the Chancery Court shall be deemed to have “primary jurisdiction” over Delaware trusts.

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