GRAMERCY FUND v. ALLIED IRISH BANKS

No. 49, 2017.

173 A.3d 1033 (2017)

GRAMERCY EMERGING MARKETS FUND, Balkan Ventures LLC, and Rila Ventures LLC, Plaintiffs Below, Appellants, v. ALLIED IRISH BANKS, P.L.C., and the Bulgarian American Enterprise Fund, Defendants Below, Appellees.

Supreme Court of Delaware.

Decided: October 27, 2017.


Attorney(s) appearing for the Case

Stephen B. Brauerman, Esquire , Sara E. Bussiere, Esquire , BAYARD, P.A., Wilmington, Delaware; Sean F. O'Shea, Esquire , (argued), Michael E. Petrella, Esquire , Amanda L. Devereux, Esquire , Brian B. Alexander, Esquire , BOIES SCHILLER FLEXNER LLP, New York, New York, Attorneys for Appellants, Gramercy Emerging Markets Fund, Balkan Ventures LLC, and Rila Ventures LLC.

Kevin R. Shannon, Esquire , Christopher N. Kelly, Esquire , POTTER ANDERSON & CORROON LLP, Wilmington, Delaware; Walter C. Carlson, Esquire , (argued), Elizabeth Y. Austin, Esquire , SIDLEY AUSTIN LLP, Chicago, Illinois, Attorneys for Appellee, Allied Irish Banks, P.L.C.

Kenneth J. Nachbar, Esquire , Ryan D. Stottman, Esquire , MORRIS, NICHOLS, ARSHT & TUNNELL LLP, Wilmington, Delaware; Christopher Landau, P.C., KIRKLAND & ELLIS LLP, Washington, D.C.; Brian D. Sieve, P.C., Jessica L. Staiger, Esquire , KIRKLAND & ELLIS LLP, Chicago, Illinois; Jeremy M. Feigenbaum, Esquire , (argued), KIRKLAND & ELLIS LLP, New York, New York, Attorneys for Appellee, Bulgarian-American Enterprise Fund.

Before STRINE, Chief Justice; VALIHURA, VAUGHN, SEITZ, and TRAYNOR, Justices, constituting the Court en Banc.


In this case, a Cayman Islands investment fund and two of its Delaware subsidiaries (collectively "Gramercy") sue a bank organized under Delaware law with offices in Illinois and Bulgaria (Bulgarian-American Enterprise Fund, or "Bulgarian-American") and an Irish bank headquartered in Dublin (Allied Irish Banks, P.L.C., or...

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