Opinion
2022-0159-SG
12-08-2023
NB Alternatives Advisers LLC v. VAT Master Corp.
Catherine G. Dearlove, Esquire Kevin M. Gallagher, Esquire Matthew W. Murphy, Esquire Caroline M. McDonough, Esquire RICHARDS, LAYTON & FINGER, P.A. Karen E. Keller, Esquire Nathan R. Hoeschen, Esquire Emily S. DiBenedetto, Esquire SHAW KELLER LLP
Submitted: November 29, 2023
Catherine G. Dearlove, Esquire Kevin M. Gallagher, Esquire Matthew W. Murphy, Esquire Caroline M. McDonough, Esquire RICHARDS, LAYTON & FINGER, P.A.
Karen E. Keller, Esquire Nathan R. Hoeschen, Esquire Emily S. DiBenedetto, Esquire SHAW KELLER LLP
SAM GLASSCOCK III VICE CHANCELLOR
Dear Counsel:
This matter seeks fees and costs in connection with a prior action in which Plaintiffs, NB Alternatives Advisers LLC (as successor-in interest to Almanac Realty Investors, LLC), Almanac Realty Securities V, LP, TW-ARS Corp., Matthew Kaplan, Moreen R. McGurk (as Executor of the Estate of John McGurk), Justin Hakimian, and Randall Guenther, sought injunctive relief to enforce a Delaware forum selection clause in an operating agreement. Defendants, VAT Master Corporation and VAT Master LP, moved to dismiss or stay this action as unripe, in light of proceedings in Wisconsin involving another, arguably overlapping, agreement between the parties with a Wisconsin forum selection clause. I deferred a decision on the motion pending the parties' assistance in evaluating the issues in Wisconsin. The Wisconsin appellate court has now entered a decision, clarifying what is at stake in the Wisconsin action. I have reviewed the Wisconsin appellate decision provided by the parties. I conclude that the ongoing Wisconsin litigation is not determinative of the fee-shifting issue before me. Accordingly, I find this matter is ripe for a decision. Please confer regarding the manner and timing of submitting the matter for decision, and contact my assistant to set a scheduling conference promptly.
NB Alternatives Advisers LLC v. VAT Master Corp., 2021 WL 1998475 (Del. Ch. May 19, 2021).
VAT Master Corp. v. Almanac Realty Sec. V, LP, 2023 WL 5967937 (Wis. App. Sept. 14, 2023).
To the extent the foregoing requires an Order to take effect, IT IS SO ORDERED.