Post by Logan on Apr 24, 2016 6:49:37 GMT -6
A bitter break-up involving former college sweethearts might spell the end of a successful New York company after a Delaware court issued a unique ruling.
The Delaware Court of Chancery ordered the sale of a translation software business after years of bickering between the once-engaged owners has impeded the thriving company's ability to function. Some have been critical of the decision, including former New York Mayor Rudy Giuliani, who heard about the case from a mutual friend not involved in the litigation.
"It appears to be a very intrusive ruling in terms of the free market," Giuliani told The News Journal. "I hate to see the government, including courts, sharing in the control of a private business."
Phillip Shawe and Elizabeth Elting founded TransPerfect Global Inc. in 1992, while rooming together in a New York University dormitory, according to court documents. In 1996, the couple became engaged, but Elting called it off after a year and married someone else. Elting alleged in legal filings Shawe reacted poorly to the breakup by hiding under her bed and refusing to leave for at least a half hour.
Read more: www.delawareonline.com/story/money/2016/04/22/giuliani-blasts-delaware-court-decision-lovers-spat/83345454/
The Delaware Court of Chancery ordered the sale of a translation software business after years of bickering between the once-engaged owners has impeded the thriving company's ability to function. Some have been critical of the decision, including former New York Mayor Rudy Giuliani, who heard about the case from a mutual friend not involved in the litigation.
"It appears to be a very intrusive ruling in terms of the free market," Giuliani told The News Journal. "I hate to see the government, including courts, sharing in the control of a private business."
Phillip Shawe and Elizabeth Elting founded TransPerfect Global Inc. in 1992, while rooming together in a New York University dormitory, according to court documents. In 1996, the couple became engaged, but Elting called it off after a year and married someone else. Elting alleged in legal filings Shawe reacted poorly to the breakup by hiding under her bed and refusing to leave for at least a half hour.
Read more: www.delawareonline.com/story/money/2016/04/22/giuliani-blasts-delaware-court-decision-lovers-spat/83345454/