Summary
Under Delaware law, the board of directors for a holding company properly relied on consolidated financial statements and valuations of its subsidiary, including its subsidiary’s debt, to determine whether funds were “legally available” to redeem preferre ...
Miller v. MSX-IBS Holding, Inc.
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See Also
Holding Co. Value Must Include Subsidiary Debt
Under Delaware law, the board of directors for a holding company properly relied on consolidated financial statements and valuations of its subsidiary, including its subsidiary’s debt, to determine whether funds were “legally available” to redeem preferre ...