Court Opinion

ID: 9908479
Source: CourtListenerOpinion
Date Created: 2023-12-08 20:02:32.230627+00
Date Added: 2024-06-11T12:49:12.289457
License: Public Domain

COURT OF CHANCERY
                                    OF THE
    SAM GLASSCOCK III         STATE OF DELAWARE                  COURT OF CHANCERY COURTHOUSE
     VICE CHANCELLOR                                                      34 THE CIRCLE
                                                                   GEORGETOWN, DELAWARE 19947

                          Date Submitted: November 29, 2023
                           Date Decided: December 8, 2023

    Catherine G. Dearlove, Esquire              Karen E. Keller, Esquire
    Kevin M. Gallagher, Esquire                 Nathan R. Hoeschen, Esquire
    Matthew W. Murphy, Esquire                  Emily S. DiBenedetto, Esquire
    Caroline M. McDonough, Esquire              SHAW KELLER LLP
    RICHARDS, LAYTON & FINGER, P.A.             I.M. Pei Building
    One Rodney Square                           1105 North Market Street, 12th Floor
    920 North King Street                       Wilmington, DE 19801
    Wilmington, DE 19801

                 Re: NB Alternatives Advisers LLC v. VAT Master Corp.,
                 C.A. No. 2022-0159-SG

Dear Counsel:

         This matter seeks fees and costs in connection with a prior action1 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

1
 NB Alternatives Advisers LLC v. VAT Master Corp., 2021 WL 1998475 (Del. Ch. May 19,
2021).
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.2 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.

      To the extent the foregoing requires an Order to take effect, IT IS SO

ORDERED.

                                                Sincerely,

                                                /s/ Sam Glasscock III
                                                Vice Chancellor

2
 VAT Master Corp. v. Almanac Realty Sec. V, LP, 2023 WL 5967937 (Wis. App. Sept. 14,
2023).
                                            2