At the Delaware Corporate and Commercial Litigation Blog, Francis Pileggi analyzes the Delaware Court of Chancery’s opinion in In re: El Paso Pipeline Partners, L.P. Derivative Litigation.
The opinion by Vice Chancellor Travis Laster examines at great length the nuances of the implied covenant of good faith and fair dealing, which inures to all contracts under Delaware law (and, in one form or another, the law of most Anglo-American jurisdictions). The opinion (1) compares and contrasts the implied covenant with similar contractual standards, (2) analyzes the manner in which courts should construe and apply the implied covenant, and (3) compares the implied covenant with standards for fiduciary duties.
 C.A. No. 7141-VCL (Del. Ch. June 12, 2014).