Bank of NY Mellon v. Commerzbank


Oral Argument
02/05/13 – 02/05/13


In this oral argument before the Delaware Supreme Court, The Bank of New York Mellon challenged the Court of Chancery's interpretation of the Parity Securities definition. The Bank of New York Mellon alleged that Commerzbank relied on a strained and unreasonable interpretation of the Parity Securities definition to justify its failure to make the required April 12, 2010 payment to holders of Commerzbank Capital Funding Trust II securities. In a memorandum opinion issued August 4, 2011, the Court of Chancery held that DresCap Securities were not Party Securities and granted summary judgment for Commerzbank.


The  Court  of  Chancery's judgment was reversed, and the case was remanded, with instructions to the Court of Chancery to enter final judgment for the Trustee on count I (declaratory judgment) and count II (specific performance). Jurisdiction was not retained.  


Recording Disclaimer: This proceeding was recorded in full.

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