EL PASO PIPELINE GP CO. v. BRINCKERHOFF

No. 103, 2016.

152 A.3d 1248 (2016)

EL PASO PIPELINE GP COMPANY, L.L.C., Defendant Below, Appellant/Cross-Appellee, and El Paso Corporation, Douglas L. Foshee, John R. Sult, Ronald L. Kuehn, Jr., D. Mark Leland, Arthur C. Reichstetter, William A. Smith and James C. Yardley, Defendants Below, Cross-Appellees, and El Paso Pipeline Partners, L.P., Nominal Defendant Below, v. Peter R. BRINCKERHOFF, Trustee of the Peter R. Brinckerhoff Rev. Tr. U/A DTD 10/17/97, Plaintiff Below, Appellee/Cross-Appellant.

Supreme Court of Delaware.

Decided: December 20, 2016.


Attorney(s) appearing for the Case

Peter J. Walsh, Jr., Esquire , Brian C. Ralston, Esquire , and Berton W. Ashman, Jr., Esquire , Potter Anderson & Corroon LLP, Wilmington, Delaware. Bradley R. Aronstam, Esquire , S. Michael Sirkin, Esquire , Ross Aronstam & Moritz LLP of Wilmington, Delaware. Of Counsel: Joseph S. Allerhand, Esquire (argued), Seth Goodchild, Esquire , Amanda K. Pooler, Esquire , and Nikolei M. Kaplanov, Esquire , Weil, Gotshal & Manges LLP, New York, New York; Christine T. Di Guglielmo, Esquire , Weil, Gotshal & Manges LLP, Wilmington, Delaware, for Defendant Below, Appellant/Cross-Appellee El Paso Pipeline GP Company, L.L.C. and Defendants Below, Cross-Appellees El Paso Corporation, Douglas L. Foshee, John R. Sult, Ronald L. Kuehn, Jr., D. Mark Leland, Arthur C. Reichstetter, William A. Smith, and James C. Yardley.

Jessica Zeldin, Esquire , Rosenthal, Monhait & Goddess, P.A., Wilmington, Delaware. Of Counsel: Jeffrey H. Squire, Esquire (argued), Lawrence P. Eagel, Esquire , and David J. Stone, Esquire , Bragar Eagel & Squire, P.C., New York, New York, for Plaintiff Below, Appellee/Cross-Appellant Peter R. Brinckerhoff, Trustee of the Peter R. Brinckerhoff Rev. Tr. U/A DTD 10/17/97.

Before STRINE, Chief Justice; HOLLAND, VALIHURA and VAUGHN, Justices; and RENNIE, Judge, constituting the Court en Banc.


I. INTRODUCTION

In a detailed, well-reasoned decision, the Court of Chancery held that a conflicts committee approved a conflict transaction that it did not believe was in the best interests of the limited partnership it was charged with protecting. In fact, the court found that the committee — and the committee...

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