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FRANKEL v. ICD HOLDINGS S.A.

No. 96 Civ. 1141 (LAK).

930 F.Supp. 54 (1996)

Alfred M. FRANKEL, et ano., Plaintiffs, v. ICD HOLDINGS S.A., et al., Defendants.

United States District Court, S.D. New York.

June 10, 1996.

Attorney(s) appearing for the Case

Ira S. Sacks, Alex Lipman, Fried, Frank, Harris, Shriver & Jacobson, for Plaintiffs.

Robert A. Weiner, Y. David Scharf, McDermott, Will & Emery, for Defendants.

OPINION

KAPLAN, District Judge.

In January 1994, plaintiffs, then the owners of ICD Group, Inc. ("ICD"), one of the largest international dealers in petrochemical based commodities, sold all of their ICD stock to ICD Holdings S.A. ("Holdings"), an entity formed by two of their key employees, Dirk de Geus and Peter Loeffelhardt, for the purpose of acquiring ICD in a management buyout. Part of the consideration...

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