Survey shows corporations souring on Delaware legal climate
DOVER, Del. (AP) — Delaware appears to be losing its favored legal climate status among corporate attorneys and executives.
The U.S. Chamber of Commerce Institute for Legal Reform says that after ranking first in all 10 previous surveys, Delaware’s overall legal climate ranks 11th in this year’s survey, released Tuesday.
South Dakota is number one, followed by Vermont, Idaho, Minnesota and New Hampshire. Vermont edged Delaware for the top spot for trial judge competence.
Institute President Lisa Rickard says Delaware is losing ground as states compete to enact legal reforms.
Corporations seem particularly upset about a Delaware law passed in 2015 that prohibits companies from forcing investors who bring and lose certain lawsuits to pay a company’s legal costs.
Companies are also unhappy with the aggressive way Delaware has enforced its unclaimed property laws.