Ohio: Sale of Substantially All the Assets of a Failing Business

    View Author January 2021

    In early December 2020, Vice Chancellor Laster of the Delaware Court of Chancery held that the authority of directors at common law to sell substantially all the assets of an insolvent or failing Delaware corporation was not abridged or abrogated by the 1917 legislative enactment of the predecessor to Section 271 of today’s Delaware General Corporation Law (DGCL).