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RESERVES DEV. LLC v. SEVERN SAV. BANK, FSB

No. 52, 2008.

961 A.2d 521 (2008)

RESERVES DEVELOPMENT LLC and The Reserves Development Corporation, Plaintiffs-Below, Appellants, v. SEVERN SAVINGS BANK, FSB, Alan J. Hyatt, Defendants Below, Appellees, and Bella Via, LLC, Defendant Below, Appellee/Cross Appellant, v. Reserves Development LLC and The Reserves Development Corporation, Plaintiffs-Below, Appellants/Cross Appellees.

Supreme Court of Delaware.

Decided: October 21, 2008.

Attorney(s) appearing for the Case

Edward M. McNally, Esquire (argued) and Fotini A. Antoniadis, Esquire, and Corinne Elise Amato, Esquire, Morris James, LLP, Wilmington, DE, for Appellants/Cross Appellees.

Michael W. Arrington, Esquire (argued) of Parkowski, Guerke & Swayze, P.A., Wilmington, DE, for Appellees Severn Savings Bank, FSB and Alan J. Hyatt.

Richard E. Berl, Jr., Esquire (argued) of Smith O'Donnell Feinberg & Berl, LLP, Georgetown, DE, for Appellee/Cross Appellant Bella Via, LLC.

Before BERGER, JACOBS and RIDGELY, Justices.

BERGER, Justice:

In this appeal we consider whether the Court of Chancery properly exercised its discretion in granting limited equitable relief to appellants during the pendency of related litigation in the Superior Court. This case involves two actions, both arising from an unsuccessful effort to develop a residential community in Sussex County. Appellants, the owners and developers of the property, complain that they were forced to incur substantial expenses for...

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