JUST IN: DELAWARE’S SENATE HAS CONFIRMED KYLE LACHMUND TO THE COURT OF CHANCERY : 19-0. Lachmund will serve a 12-year term on the court at the center of America’s corporate-law system. He comes from Richards, Layton & Finger, previously practiced at Wachtell, and clerked for Vice Chancellor J. Travis Laster. His comments before confirmation are notable: Lachmund said the business judgment rule is “at the heart” of Delaware corporate law and of his philosophy of judicial restraint. He also told lawmakers that when the legislature changes corporate law, “the legislature is supreme” and judges must apply the statute as written. That philosophy will now matter in the court Delaware is relying on to defend its corporate franchise against Texas and Nevada.