America's Top Business Court Gets Dragged Into a Lover's Quarrel
- Judge’s ruling to order sale of TransPerfect spurs debate
- Critics say state’s Chancery court has grown too powerful
Delaware Chancery Court in Georgetown, Delaware.
Photographer: Pat Crowe II/BloombergThis article is for subscribers only.
It was the classic love story -- turned soap opera. Elizabeth Elting and Philip Shawe founded a Manhattan-based translation-services company in their New York University dorm room for MBA students two decades ago. They owned it 50-50. Eventually, they got engaged.
But by 2011 the couple was feuding over who should run the company, TransPerfect Global Inc., and bickering about everything from taxes to payroll. They broke off their engagement.