Advanced Mining Systems v. Fricke

623 A.2d 82 (1992)

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Advanced Mining Systems v. Fricke

Delaware Court of Chancery
623 A.2d 82 (1992)

Facts

Advanced Mining Systems, Inc. (AMS) (plaintiff) sued its former president, Richard Fricke (defendant). AMS’s certificate of incorporation and bylaws contained a provision that would require it to indemnify Fricke to the extent permitted by state law. Fricke moved for the court to require AMS to advance him the costs of the litigation, agreeing to pay back the advance were he not to prevail.

Rule of Law

Issue

Holding and Reasoning (Allen, J.)

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