Levy v. HLI Operating Co., Inc.

OPINION

LAMB, Vice Chancellor.

A Delaware corporation moves for partial summary judgment against several of its former outside directors in a suit brought by them to obtain indemnification for monies paid in settlement on their behalf by another entity, one which itself owed a concomitant contractual duty to indemnify losses resulting from their actions as directors. Since the directors suffered no actual loss as a result of the settlement and are therefore not real parties-in-interest, the appropriate cause of action on these facts is a claim for contribution against the corporation initiated…