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COTTRELL v. PAWCATUCK COMPANY

Civil Action No. 465.

116 A.2d 787 (1955)

Helen E. COTTRELL, Plaintiff, v. The PAWCATUCK COMPANY (formerly the C. B. Cottrell & Sons Company), a Delaware Corporation, Harris-Seybold Company, a Delaware Corporation, Donald C. Cottrell, Ridley Watts, Arthur M. Cottrell, Jr., and Charles P. Cottrell, Jr., Defendants.

Court of Chancery of Delaware, New Castle.

September 28, 1955.

Attorney(s) appearing for the Case

Arthur G. Logan and Aubrey B. Lank of Logan, Marvel, Boggs & Theisen, Wilmington, and A. A. Berle, Jr., Rudolph P. Berle and Robert H. Seabolt, of Berle, Berle, Agee & Land, New York City, for plaintiff.

Henry M. Canby and Louis J. Finger, of Richards, Layton & Finger, Wilmington, for defendants, The Pawcatuck Company, and others.

Richard F. Corroon, of Berl, Potter & Anderson, Wilmington, and Paul J. Bickel and Elmer Jacobs, Cleveland, Ohio, for defendant Harris-Seybold Company.

SEITZ, Chancellor.

Plaintiff brought this action as a stockholder of what was then the C. B. Cottrell and Sons Company1 ("old company") to enjoin a sale of its "non-liquid" assets to the other corporate defendant, Harris-Seybold Company ("Harris"). Actually the assets were sold to what is now a wholly owned subsidiary of Harris, here designated as the "new company".

For reasons set forth in the Court's opinion, plaintiff did not...

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