Court of Chancery expands for the first time since ’89

The Delaware Court of Chancery is known across the nation as the business court in the land, serving the many entities incorporated in Delaware, including some of the world’s biggest companies, like Apple, Yelp and Coca-Cola. Remember when Mark Zuckerberg hung out at the Iron Hill Brewery last year? The Court of Chancery — where Zuckerberg testified in a stock restructuring case against Facebook — was why.

This week, the Court got bigger. Two new vice chancellors — both women — have officially expanded the Court of Chancery, for the first time in nearly 30 years. Morgan Zurn and Katie McCormick were unanimously approved by the State Senate on Oct. 4.

From Delaware State News:

The Court of Chancery oversees disputes and questions involving some of the world’s largest companies. Delaware is home to more than 1 million legal entities, including two-thirds of the Fortune 500 companies, and the Court of Chancery and its detailed case law is a major reason why.

“What’s different about our courts for the business community is we deliver real-world answers with world-class quality,” Chief Justice [Leo] Strine said in a November budget hearing. “Remember for businesses, they’re not going to agree with everything you do. Nor are the stockholders. But you get a fair shake here.”

Zurn and McCormick are the third and fourth women to serve on the Court of Chancery.