Wendt v. Steelcome Limited

Summary

The Supreme Court of Delaware affirmed orders appointing a liquidating trustee, defining his authority, and awarding him reduced attorney fees. The court held that the trustee's authority to control the companies in existing proceedings included authority to retain counsel, and that the Court of Chancery did not abuse its discretion in awarding $150,000 in fees. The court declined to reach the merits of Wendt's corporate-veil argument because the appellate record lacked a transcript necessary to evaluate the claim.