Schedule 14A

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
SCHEDULE 14A INFORMATION
 
Consent Solicitation Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934
 
Filed by the Registrant o Filed by a Party other than the Registrant x
 
Check the appropriate box: 
o
Preliminary Proxy Statement
o
Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
o
Definitive Proxy Statement
x
Definitive Additional Materials
o
Soliciting Material Pursuant to §240.14a-12

 
 

DELCATH SYSTEMS, INC.
(Name of Registrant as Specified In Its Charter)
 

ROBERT B. LADD
JONATHAN A. FOLTZ
MICHAEL KARPF, M.D.
PAUL WILLIAM FREDERICK NICHOLLS
FRED S. ZEIDMAN
LADDCAP VALUE ASSOCIATES LLC
LADDCAP VALUE PARTNERS LP
 
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
 
Payment of Filing Fee (Check the appropriate box):
 
x
No fee required.
   
o
Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
 
 
 
 
(1)
Title of each class of securities to which transaction applies:  N/A
 
(2)
Aggregate number of securities to which transaction applies:  N/A
 
(3)
 Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule
    0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):
    N/A
 
(4)
Proposed maximum aggregate value of transaction:  N/A
 
(5)
Total fee paid:  N/A
 
    
o
Fee paid previously with preliminary materials.
   
o 		 Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the
filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing:
   
 
(1)
Amount previously paid:  N/A
 
(2)
Form, Schedule or Registration Statement No.:  N/A
 
(3)
Filing party:  N/A
 
(4)
Date Filed:  N/A
 
 
 

UNITED STATES COURT OF APPEALS FOR THE SECOND CIRCUIT
Thurgood Marshall U.S. Courthouse at Foley Square  40 Centre Street, New York, NY 10007  Telephone:  212-857-8500
 
MOTION INFORMATION STATEMENT
 
Docket
Number(s):
  
     Not yet assigned; District Court
     Docket No. 06-cv-6420                                                          
                                                               Caption [use short title]                                                         
 
 
    Robert Ladd, et al.,
     Defendants-Appellants,
 
  vs.
 
EMERGENCY
Motion for:
   Modification of Temporary Restraints
   and Immediate Temporary Remand to
   District Court                                                                
Set forth below precise, complete statement of relief sought:
Appellants move for an emergency order (i) modifying
interim restraints entered by the District Court against
Appellants by permitting Appellants to deliver written
shareholder consents they have collected to Appellee or its
registered agent pursuant to Delaware General Corporation
Law Section 228(c) by September 25, 2006, thereby
preserving the legal viability of the shareholder vote
pending the completion of further proceedings in this Court
and in the District Court on remand, and (ii) temporarily
remanding this case to the District Court for a plenary
hearing on Appellee's application for entry of a preliminary
injunction, to be immediately followed by further appellate
proceedings in this Court should the District Court grant the
application in whole or in part.                                                                                   
  
                               Delcath Systems, Inc.,
                               Plantiff - Appellee.
 
 
 
 
 
 
 
 
 
 
 
 
                                                                 
                                                                                                                                                                                                                              
     
MOVING PARTY:
Robert Ladd, Laddcap Value
Partners LP, Laddcap Value
Advisors LLC and Laddcap Value
Associates LLC.                                                        
OPPOSING PARTY:     Delcath Systems, Inc.
 
 
                                                                                                                                                        
¨  Plaintiff
X  Appellant/Petitioner
  
¨  Defendant
¨  Appellee/Respondent
  
     
MOVING ATTORNEY:
[name of attorney, with firm, address, phone number and e-mail]
 
OPPOSING ATTORNEY:
[name of attorney,with firm, address, phone number and e-mail]
Steven M. Hecht, Esq.                                                                                                 
  
Adam H. Offenhartz, Esq.                                                                                                                  
Lowenstein Sandler PC                                                                                                
 
Gibson, Dunn & Crutcher LLP                                                                                                          
1251 Avenue of The Americas                                                                                   
 
200 Park Avenue                                                                                                                                 
New York, NY 10020                                                                                                     
 
New York, NY 10166                                                                                                                           
Tel: 212-262-6700                                                                                                          
 
Tel: 212-351-3808                                                                                                                                 
Email: shecht@lowenstein.com
  
Email: aoffenhartz@gibsondunn.com
     
Court-Judge/Agency appealed from:
  
United States District Court for the Southern District of New York, Hon. Loretta A. Preska,
U.S.D.J.                                                                                                                                                                                                                                                                                                                                                
     
Please check appropriate boxes:
  
FOR EMERGENCY MOTIONS, MOTIONS FOR STAYS
AND INJUNCTIONS PENDING APPEAL:
Has consent of opposing counsel:
          A. been sought?                              ¨ Yes     X No
          B.  been obtained?                           ¨ Yes     X No.
 
Is oral argument requested:                    X Yes     ¨ No
(requests for oral argument will not necessarily be granted)
  
Has request for relief been made below?     X Yes     ¨ No
 
Has this relief been previously sought
in this Court?                                                   ¨ Yes     X No
 
Requested return date and explanation of emergency:
Requested return date:  Monday, September 25, 2006
     
18104/4
09/21/2006 2019181.01
 

Has argument date of appeal been set?  ¨ Yes     X No
  
Appellants are in the process of conducting a shareholder
consent solicitation campaign to unseat the current board of
directors of Appellee, a publicly-traded company that is
organized under Delaware law. Under Delaware law, this
process must be completed by September 25, 2006.
Accordingly, the window of time within which this Court can
provide meaningful relief to Appellants from an Order entered
by the District Court on September 20, 2006 is extremely
limited. The District Court's September 20, 2006 Order
extended a TRO which prohibits Appellants from delivering
written shareholder consents in its possession to Appellee's
registered agent. Under § 228(c) of the Delaware General
Corporation Law, if Appellants fail to deliver the consents by
the close of business on September 25, 2006 -- less than four
days from the date of this motion -- the written consents will
become null and void, and the shareholder vote will be rendered
a nullity. Once the statutory deadline passes, no Court has the
power to undo that result under Delaware law. Accordingly,
emergency relief is necessary to prevent the irretrievable loss of
the shareholders' decision in this election and to preserve that
decision for the benefit of whichever party proves to be the
winner in the consent solicitation campaign.
__________________________________________________________________________
If ves. enter date                                              
  
 
__________________________________________________________________________
Signature of Moving
Attorney:
 
                                              Date:       September 21, 2006
  
 
 
 
Has service been effected?                                  X Yes     ¨ No
[Attach proof of service]

ORDER

IT IS HEREBY ORDERED THAT the motion is GRANTED          DENIED.
     
   
 
                    FOR THE COURT:
                    ROSEANN B. MacKECHNIE, Clerk of the Court
   
Date:                                                                                                
 
Form T-1080 (Revised 10/31/02).
                    By:                                                                                               




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