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COYNE v. PARK & TILFORD DISTILLERS CORPORATION

146 A.2d 785 (1958)

Maurice COYNE, Maximilian A. Coyne and Leonard A. Hockstader, Willard E. Loeb, Henry L. Heming, Henry A. Cohn, Albert F. Hockstader, Eugene Treuhold, Henry J. Dietrich, Hugh Samson, Peter A. Cohn, Paul M. Kaufmann, Thomas H. Hockstader, H. Austin Kaye, Abraham S. Platt, Herbert H. Weltsman, Burbank C. Young, Walter W. Hess, Jr., General Partners, and Leonard A. Hockstader and Willard E. Loeb, as Executors of the Estate of Louis F. Rothschild, Deceased, Henry C. Schreler, and Charles Neuwirth, Limited Partners, a partnership trading as L. F. Rothschild & Co., Plaintiffs, v. PARK & TILFORD DISTILLERS CORPORATION and Schenley Industries, Inc., both Delaware corporations, Defendants.

Court of Chancery of Delaware, New Castle.

Reargument Denied December 17, 1958.

Attorney(s) appearing for the Case

H. James Conaway, Jr., Wilmington, for plaintiffs.

Aaron Finger, of Richards, Layton & Finger, Wilmington, for defendants.

SEITZ, Chancellor.

This is an action by certain equitable stockholders of the corporate defendant, Park & Tilford Distillers Corporation ("Park") to enjoin the consummation of a merger with the other corporate defendant, Schenley Industries, Inc. ("Schenley"). The matter comes before the court on the motions of plaintiffs and defendant Schenley for summary judgment.

Schenley purported to merge Park into Schenley by action taken on March 26, 1958, pursuant...

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