Del. Supreme Court Affirms Dismissal of Chemours’ Spin-Off Claims

Skadden successfully defended an appeal on behalf of DuPont de Nemours, Inc., Corteva, Inc. and E. I. du Pont de Nemours & Company arising out of the dismissal of a lawsuit brought by The Chemours Company in the Delaware Court of Chancery challenging the terms of its spin-off from DuPont. Among other things, Chemours alleged that it never consented to the separation agreement governing the terms of the spin-off and should not be bound by the mandatory confidential arbitration provisions. The defendants argued that Chemours was bound by the arbitration provisions, which required the arbitrator to determine whether Chemours’ claims were arbitrable. The Court of Chancery agreed and dismissed the action. In a one-page order, the Delaware Supreme Court, sitting en banc, unanimously affirmed the dismissal.