The Delaware Court of Chancery has seen record numbers of cases in 2023, with 1,000+ filings as of early October, compared to just over 900 at the same time in 2022. Some of this increase can be attributed to the “SPAC ratification attack,” with the court hearing 63 SPAC ratification cases so far this year — but even setting that aside, the court is on track to break all previous case records, Cooley reports.
Given this volume, in an effort to increase efficiency the court is now assigning almost all Section 220 matters to magistrate judges (who also handle all guardianship cases in Delaware). Two magistrates were added to the court in 2023 (bringing the total to three), and the court has requested funding for even more magistrates to streamline cases beyond Section 220. Read more.
