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STEINBERG v. SHIELDS

153 A.2d 599 (1959)

Louis H. STEINBERG, Plaintiff, v. Paul V. SHIELDS, Robert Ayers, John G. Banniser, Eugene H. Catron, George L. Coleman, Robert B. Hunter, Edward M. Powers, Hugh V. Sherrill, A. Knox Tyson, Nafi Corporation, Nafco, Inc. and Nafco Oil and Gas, Inc., and Paul V. Shields, Eugene H. Catron, Hugh V. Sherrill, Cornelius Shields, Macrae Sykes, Vladimir N. Bashkiroff, Robert L. Veit, Donald Arthur, Jr., Theodore L. Crockett, Thomas H. McGlade, Homer F. Locke, John J. Reilly, Douglas R. Hansel, Edward E. Green, Warner G. Cosgrove, Jr., Bernard F. Toole, and Herbert H. Childs, co-partners doing business under the firm name and style of Shields & Company, Defendants.

Court of Chancery of Delaware, New Castle.

July 16, 1959.

Attorney(s) appearing for the Case

William E. Taylor, Jr. of Wilmington, and Julius Levy of Pomerantz, Levy & Haudek of New York City, for plaintiff.

William S. Potter, David F. Anderson, James L. Latchum of Berl, Potter & Anderson of Wilmington, for appearing defendants.

SEITZ, Chancellor.

The defendant, Shields & Co., a brokerage partnership, has moved to vacate this court's sequestration order of June 1, 1959, which seized certain shares of stock of the defendants, Nafi Corporation and Nafco Inc., registered in the name of Shields & Co. The ground of the motion is that Shields & Co. has no interest in the seized shares or has no interest therein capable of sale under 10 Del.C. § 366; it being alleged that such shares...

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