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PIPELIFE CORPORATION v. BEDFORD

150 A.2d 319 (1959)

PIPELIFE CORPORATION, a Delaware corporation, Plaintiff, v. Barney F. BEDFORD, John Boles, J. C. Cooper, B. G. Efting, and M. D. Fanning, et al., Defendants.

Court of Chancery of Delaware, New Castle.

February 25, 1959.

Attorney(s) appearing for the Case

Stewart Lynch, of Hastings, Lynch & Taylor, Wilmington, and David M. Thornton, Tulsa, Okl., for plaintiff.

Irving Morris, of Cohen & Morris, Wilmington, for defendants Bedford, Cooper, Fanning and Efting.

Howard L. Williams, Edmund D. Lyons and Arthur J. Sullivan, of Morris, James, Hitchens & Williams, Wilmington, for certain other defendants.

SEITZ, Chancellor.

In its prior opinion this court determined that the non-exclusive license transferred to the plaintiff corporation by these defendants and others for 367,000 shares of its $1 par value stock did not have a value even substantially near $367,000. The court reserved for future determination the question as to the value which should be ascribed to the license and, in effect, the nature of the relief to be granted. See Pipelife Corp. v. Bedford, Del...

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