10 Del. C. § 7318A: Assignee removal; successor assignee.

(a) The assignor or a creditor may request the Court of Chancery to remove the assignee, if the assignor or creditor has a reasonable belief grounds for removal exist under subsection (b) of this section.

(b) After a request under subsection (a) of this section or on the Court of Chancery’s initiative in an action pending before the Court under § 7321A of this title, the Court may remove an assignee:

(1) For cause, including the assignee’s fraud, dishonesty, incompetence, gross mismanagement, or failure to materially comply with this chapter; and

(2) If removal of the assignee best serves the interests of the creditors.

(c) After an assignee resigns, or is removed, dies, or becomes incapacitated, a successor assignee provided for in the assignment agreement becomes the assignee, unless the successor assignee is not eligible to be an assignee under § 7304A(a) of this title or is subject to removal under subsection (b) of this section. The Court of Chancery shall appoint a successor assignee if:

(1) The assignment agreement does not provide for a successor assignee; or

(2) The successor assignee provided for in the assignment agreement is ineligible to be an assignee under § 7304A(a) of this title or is subject to removal under subsection (b) of this section.

(d) Subject to § 7317A of this title, an assignee that resigns, or is removed, dies, or becomes incapacitated, is discharged from the assignee’s duties under this chapter when the assignee, or a representative of a deceased or incapacitated assignee:

(1) Accounts for and turns over to the successor assignee all assets of the assignment estate; and

(2) Submits to creditors a report summarizing the receipts and disbursements made during the service of the assignee.

(e) Subject to an applicable privilege, the Court of Chancery may order an attorney, accountant, or other person that has information in a record relating to the assignment estate or the assignor’s financial affairs to turn over or disclose the record to the successor assignee.