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CLIFTON PARK MANOR, SECTION ONE v. MASON

Civ. A. No. 1734.

137 F.Supp. 324 (1955)

CLIFTON PARK MANOR, SECTION ONE, Inc., Clifton Park Manor, Section Two, Inc., Clifton Park Manor, Section Three, Inc., Delaware corporations, C. Porter Schutt, Thomas E. Brittingham, Jr., Charles R. Martin and Charles F. Benzel, Plaintiffs, v. Norman P. MASON, Federal Housing Commissioner, and Federal Housing Administration, Defendants.

United States District Court D. Delaware.

July 27, 1955.

Attorney(s) appearing for the Case

Clair J. Killoran and John Van Brunt (of Killoran & Van Brunt), Wilmington, Del., for plaintiffs.

Leonard G. Hagner, U. S. Atty., Wilmington, Del., and Max L. Kane, Atty., Dept. of Justice, Washington, D. C., for defendants.

LEAHY, Chief Judge.

1. The problem involved here concerns the legality of a dividend paid by a Delaware corporation as well as the rights, under the charter contract of that Delaware corporation, between the stockholders inter sese. This calls for the application of Delaware law exclusively. Such a judicial matter is peculiarly within the expert competence of the Delaware Courts. There is now pending in the Delaware Court of Chancery a companion suit to the one pending...

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