Glenn Agre Defeats Motion to Dismiss on behalf of Oxford Finance in Delaware Court of Chancery

Glenn Agre Bergman & Fuentes achieved a significant litigation victory on behalf of Oxford Finance LLC in litigation pending before the Delaware Court of Chancery.

Oxford Finance, a secured lender to Sequencing Health, LLC, foreclosed on the company’s assets and brought claims against its former directors and officers for breach of fiduciary duty, fraudulent transfer, and fraud following the collapse of Sequencing Health’s business.  Oxford Finance alleged that the defendants wrongfully paid themselves significant bonuses and funded a D&O insurance policy from the proceeds of Oxford’s collateral.

Rejecting defendants’ arguments concerning Oxford’s standing and jurisdiction, the Court held that Oxford, as successor to Sequencing Health, could pursue those claims directly.

Oxford Finance’s breach of fiduciary duty, fraudulent transfer, and fraud claims will now proceed to discovery.

The Glenn Agre team includes partners Andrew Glenn and Marissa Miller, and associates Meg Reilly and Colleen Piasentin.