8 Del. C. § 279: the Court of Chancery appoints trustees or receivers for a dissolved corporation (8 Del. C. § 279)
At any time after dissolution, including after the three-year winding up, a creditor, stockholder or director can ask the Court of Chancery to appoint a trustee or receiver, who then takes charge of the company's property and can sell it.
Dated 21 Oct 2026Source checked 21 Oct 2026Basis: primary text
In the source's own words
“When any corporation organized under this chapter shall be dissolved in any manner whatever, the Court of Chancery, on application of any creditor, stockholder or director of the corporation, or any other person who shows good cause therefor, at any time, may either appoint 1 or more of the directors of the corporation to be trustees, or appoint 1 or more persons to be receivers, of and for the corporation, to take charge of the corporation’s property”
Where it was read
Also read from the same source
- Does the company selling the data own it, and has someone with authority approved the sale?
- Has the board approved the licence, and do investor agreements or charters give investors a veto over selling or licensing key assets?
- 8 Del. C. § 278 (continuation of dissolved corporation) (8 Del. C. § 278)
- 8 Del. C. § 281(b): plan of distribution of a dissolved Delaware corporation (8 Del. C. § 281(b))
- 8 Del. C. § 271(a): selling all or substantially all assets needs a stockholder vote (8 Del. C. § 271(a))
- 8 Del. C. § 275(b): dissolution needs a majority of the outstanding voting stock (8 Del. C. § 275(a)-(c))
Figures it counts in
It is shown on its own, not counted into a figure.
Cited in this guide