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duPONT v. duPONT

Civ. A. No. 1988.

203 A.2d 840 (1964)

Irenee duPONT, Jr., Crawford H. Greenewalt and Ernest N. May, as Executors of the Estate of Irenee duPont, Plaintiffs, v. Irenee duPONT, Jr., Crawford H. Greenewalt and Ernest N. May, as Trustees under the Will of Irenee duPont, and Irenee duPont, Jr., as Trustee of a Charitable Trust under a Deed of Trust dated December 25, 1947, Defendants.

Court of Chancery of Delaware, New Castle.

October 9, 1964.

Attorney(s) appearing for the Case

S. Samuel Arsht and David A. Drexler, of Morris, Nichols, Arsht & Tunnell, Wilmington, for plaintiffs.

S. Samuel Arsht and David A. Drexler, of Morris, Nichols, Arsht & Tunnell, Wilmington, for defendants Irenee duPont, Jr., Crawford H. Greenewalt, Ernest N. May, as Trustees under the Will of Irenee duPont.

Clair John Killoran, of Killoran & VanBrunt, Wilmington, for defendant, Irenee duPont, Jr., as Trustee of a Charitable Trust under a Deed of Trust dated December 25, 1947.

SEITZ, Chancellor.

This case raises an important legal issue of first impression in Delaware. Plaintiffs as executors of the estate of Irenee duPont ("testator") filed a complaint seeking instructions as to the proper distribution of the proceeds of sales of certain General Motors ("GM") stock held by them ($6,108,785.63). They joined as defendants the trustees under the residuary clause of the will ("residuary trustees") and the trustee of an inter vivos charitable...

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