STATE v. SWEETWATER POINT, LLC

C.A. No. 5009-VCG.

STATE OF DELAWARE, Petitioner, v. SWEETWATER POINT, LLC and LEHMAN BROTHERS HOLDINGS, INC., Respondents.

Court of Chancery of Delaware.

Decided: May 23, 2017.


Attorney(s) appearing for the Case

Gerald I. Street and John I. Ellis , of STREET & ELLIS P.A., Dover, Delaware, Attorneys for Petitioner.

Richard P. Beck , of RICHARD BECK LLC, Wilmington, Delaware; John H. Newcomer, Jr. and Thomas P. Carney , of MORRIS JAMES LLP, Wilmington, Delaware; Craig A. Karsnitz , of YOUNG CONAWAY STARGATT & TAYLOR LLP, Georgetown, Delaware, Attorneys for Respondents.


MEMORANDUM OPINION

Real property is a unique asset. It cannot be consumed, although its fruits may. In can be conceptually possessed, but not physically deployed or moved. Ownership of realty is simply the right to exclude others from the use and fruits of the land. Nonetheless, ownership...

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