Quadrant Structured Products Co., Ltd.

Summary

The Delaware Supreme Court did not decide whether Quadrant’s claims were barred by the Athilon indenture’s no-action clause. It concluded that the appeal turned on two dispositive and unsettled questions of New York law concerning whether a clause referring only to the indenture reaches common-law and statutory claims, and it certified those questions to the New York Court of Appeals for decision in the first instance. The Court retained jurisdiction and stated that it would take no further action pending the New York court’s response.