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On December 8, 2020, the Delaware Court of Chancery in Stream TV Networks, Inc. v. SeeCubic, Inc. [1] upheld a unique structure established by secured lenders to protect their interests and in doing so the Court addressed a number of corporate law issues. Stream TV Networks, Inc. (“Stream“) was a family-controlled Delaware corporation with outside investors and two secured lenders that held security interests in substantially all of Stream’s assets. Stream was in financial difficulties, having defaulted on the secured loans, missed payroll and failed to pay trade debt. Under pressure, the two controlling family members who were the directors increased the size of the board and added four independent outside directors. The outside directors then formed a committee with full authority to resolve any debt defaults. Following negotiations, the committee authorized and Stream executed a restructuring agreement providing that the secured lenders would not foreclose on Stream’s

United statesDelaware courtSeecubic incCorporation lawStream tv networks incEnergetics incDelaware general corporation lawApplied energeticsஒன்றுபட்டது மாநிலங்களில்டெலாவேர் நீதிமன்றம்நிறுவனம் சட்டம்ஸ்ட்ரீம் தொலைக்காட்சி நெட்வொர்க்குகள் இன்க்ஆற்றல் இன்க்டெலாவேர் ஜநரல் நிறுவனம் சட்டம்பயன்படுத்தப்பட்டது ஆற்றல்