Delaware Enacts Protections for Closed-End Fund Investors

The M&A Lawyer

Kenneth E. Burdon Eben P. Colby Kevin T. Hardy Michael K. Hoffman

Skadden attorneys discuss recent amendments to the Delaware Statutory Trust Act, including a control share statute that provides enhanced protections for all listed closed-end funds (including BDCs). The statute contains several provisions intended to complement regulatory and corporate governance considerations applicable to these funds under the 1940 Act.