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ARTICLE · 22 JUNE 2016

Chancery OKs Modified Auction of TransPerfect Global, Inc.

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In addition to providing the terms of the Modified Auction, the Sale Report included the Custodian's requests for additional authority and discretion to oversee the Modified Auction.

United StatesLitigation, Mediation & Arbitration
Fox Rothschild LLP
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John O'Toole writes:

On June 20, 2016, the Court of Chancery released another opinion in the nationally controversial saga of TransPerfect Global, Inc. (the "Company"). In re: TransPerfect Global, Inc., C.A. No. 9700-CB (Del. Ch. Jun. 20, 2016); Etling v. Shawe, C.A. No. 10449-CB (Del. Ch. Jun. 20, 2016); see also In re Shawe & Elting, LLC, C.A. No. 9661-CB, 2015 WL 4874733 (Del. Ch. Aug. 13, 2015)  Here, having previously ordered the sale of the Company by a designated custodian (the Custodian"), Chancellor Bouchard approved a modified auction of the Company (the "Modified Auction"), as recommended in the Custodian's sale report (the "Sale Report").  The Custodian recommended, and the Court agreed, that of the options provided in the Sale Report, the sale of the Company would be accomplished most effectively through:

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