“
The state has long been a magnet for corporate litigation because of its welcoming tax structures and the court’s business expertise. Yet the State Legislature became concerned that Delaware was losing its “pre-eminence” in corporate litigation to a growing market in private dispute resolution.
To compete, Delaware passed a law in 2009 offering new privileges to well-heeled businesses. If litigants had at least $1 million at stake and were willing to pay $12,000 in filing fees and $6,000 a day thereafter, they could use Delaware’s chancery judges and courtrooms for what was called an “arbitration” that produced enforceable legal judgments.
Instead of open proceedings, filings would not be docketed, the courtroom would be closed to the public and the outcome would be secret. The Delaware Supreme Court could review judgments, but that court has not indicated whether appeals would also be confidential.
”
shaun james bockert 