Delaware Enacts Protections for Closed-End Fund Investors
By EsqSocial Corporation 05/08/22
On July 27, 2022, Delaware Gov. John Carney signed into law amendments to the Delaware Statutory Trust Act (DSTA). These amendments include the addition of new Subchapter III — Control Beneficial Interest Acquisitions (Control Share Statute), which is reproduced as Appendix A to this mailing. The Control Share Statute applies to all registered closed-end funds and business development companies (BDCs) that are organized as Delaware statutory trusts and have a class of equity securities listed on...
By: Skadden, Arps, Slate, Meagher & Flom LLP