Two of the most important courts for resolving U.S. business disputes, Delaware's Court of Chancery and its state Supreme Court, may be on the cusp of a dramatic turnover that could affect corporate cases for years to come, Reuters reported.


The state's tight-knit legal community is abuzz over whether the outspoken head of the Court of Chancery, Leo Strine, will become chief justice of the state's Supreme Court after the incumbent retires on Nov. 30.

 

The move would leave a big gap at the Court of Chancery, where Strine has handed down his own brand of judicial pyrotechnics since 1998. It could also lead to even more change on the state's Supreme Court, the ultimate arbiter of the law that governs most U.S. corporations.

 

The chief justice and the chancellor, as Strine is officially known, carry an air of royalty in the world of corporate law.