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ABELOW v. SYMONDS

173 A.2d 167 (1961)

Aida ABELOW et al., Plaintiffs, v. Gardner SYMONDS, Midstates Oil Corporation, a Delaware Corporation, Middle States Petroleum Corporation, a Delaware Corporation, Tennessee Gas Transmission Company, a Delaware Corporation, et al., Defendants.

Court of Chancery of Delaware, New Castle.

July 28, 1961.

Attorney(s) appearing for the Case

Daniel O. Hastings and Russell J. Willard, Jr., of Hastings, Lynch & Taylor, Wilmington, for plaintiffs.

Henry M. Canby and E. Norman Veasey of Richards, Layton & Finger, Wilmington, for corporate defendants.

MARVEL, Vice Chancellor.

Aida Abelow and Helen G. Hamburg as stockholders of Midstates Oil Corporation instituted this suit on December 29, 1958 for the purpose of enjoining a proposed sale of all of the assets of such corporation to its parent corporation, Middle States Petroleum Corporation, pursuant to a contract which by its terms was to be consummated on or before January 1, 1959. While a motion for an order restraining the consummation of such proposed sale...

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