Below is a shocking and disturbing publication that was placed in the News Journal, on Thursday July 27th by the Citizens for Pro Business Delaware group. They are fighting the forced dissolution and sale of TransPerfect by Chancellor Andre Bouchard. My sources tell me the ad was also published in the New York Law Journal. Basically, this significant advertisement clearly lays out, for all to see, what looks to be the specific and outrageous billing orchestrated by the Court-appointed Custodian, Robert Pincus, who is Chancellor Andre Bouchard’s former business partner.
According to my reliable research, these grotesque expenditures are unnecessary and seemingly for the profit of Robert Pincus, his law firm, and his buddies at the expense and detriment of TransPerfect Global and its employees. Without itemization these unchecked bills are lumped together and paid by Court Order from TransPerfect’s coffers with the approval of Chancellor Andre Bouchard.
The bottom line is, if this can happen because of the arbitrary and biased decision by a rogue and inexperienced Chancellor, who through his seemingly nefarious actions is destroying the credibility of Delaware’s esteemed equity court — the Delaware Court of Chancery — by illegitimately giving his buddies a small fortune, Delaware will indeed, and in time, lose its incorporation bonanza and 1/3 of its income.
Shame on these people! It is an outrage for the courts to allow — much less condone such unchecked fee gouging — backscratching and cronyism for what looks to be pillaging of the bank accounts of a successful company. I again call upon lawmakers to stop what’s happening, require itemized bills to be filed, and force these firms to reduce their rates and stop this outrageous gouging!
As always your comments are welcome,
SEE the amazing advertisement below:
While jeopardizing Delaware’s $1.4 billion incorporation industry, Custodian Robert Pincus and other high-powered firms are profiting on the backs of TransPerfect employees.