Frank Aquila and Sarah Payne Explore “Ultra Vires” Doctrine

December 12, 2012
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On December 12, Mr. Aquila and Ms. Payne co-authored the article, “‘SEPTA v. Volgenau’ and the ‘Ultra Vires’ Doctrine,” in Bloomberg/BNA’s Corporate Counsel Weekly. The article examined Section 124 of the Delaware General Corporation Law, and how the Delaware Chancery Court interpreted it when actions taken by the Southeastern Pennsylvania Transportation Authority were challenged as ultra vires by a stockholder.