IN RE NORTH EUROPEAN OIL CORPORATION


129 A.2d 259 (1957)

Matter of NORTH EUROPEAN OIL CORPORATION, Petitioner.

Court of Chancery of Delaware, New Castle.

February 15, 1957.


Attorney(s) appearing for the Case

Alexander L. Nichols (of Morris, Steel, Nichols & Arsht), Wilmington, and Stanley Law Sabel, New York City, for petitioner.

Edmund N. Carpenter, II (of Richards, Layton & Finger), Wilmington, amicus curiae.

Aaron Kalb, Trenton, N. J., Stockholder, pro se.


SEITZ, Chancellor.

The petitioner, North European Oil Corporation ("corporation") has been unable to locate its majority stockholders and thus cannot take any action requiring the vote of a majority of its shares. The corporation therefore requests judicial approval of a reorganization plan which is designed to solve this problem.

The petition was set down for hearing on notice to all stockholders. The Court also...

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