Pledge of Assets

Delaware GCL § 272
Mortgage or pledge of assets

Greene v Reconstruction Finance (1^st Circuit 1938)

Receiver of a Delaware company couldn't contest validity of a mortgage made without shareholder approval
Applied predecessors to DGCL §§ 271, 272

Wright v Heizer (7^th Circuit 1977)

"Delaware law specifically provides that no shareholder approval is necessary to pledge a corporation's assets"
At page 248

Motient Corp 2003

Clear Gif