B. S. F. COMPANY v. PHILADELPHIA NATIONAL BANK


204 A.2d 746 (1964)

B. S. F. COMPANY, a Delaware corporation, Defendant Below, Appellant, and Glen Alden Corporation, a Pennsylvania corporation, v. The PHILADELPHIA NATIONAL BANK, a National Banking Association organized under the laws of the United States of America, Trustee under Indenture dated as of December 1, 1961 of B. S. F. Company, Plaintiff Below, Appellee.

Supreme Court of Delaware.

Reargument Denied November 24, 1964.


Attorney(s) appearing for the Case

Henry M. Canby of Richards, Layton & Finger, Wilmington, and William R. Glendon of Royall, Koegel & Rogers, New York, N. Y., for B. S. F. Company.

S. Samuel Arsht and William S. Megonigal, Jr. of Morris, Nichols Arsht & Tunnell, Wilmington, and Anthony H. Whitaker and Donald A. Scott of Morgan, Lewis & Bockius, Philadelphia, Pa., for Philadelphia National Bank.

David F. Anderson of Berl, Potter & Anderson, Wilmington, for Glen Alden Corporation.

WOLCOTT and CAREY, Justices, and WRIGHT, Judge, sitting.


WOLCOTT, Justice.

This is an appeal from a judgment for the plaintiff in a declaratory judgment action. The plaintiff is The Philadelphia National Bank (hereafter "Trustee"), Trustee under an Indenture securing an issue of debentures of the defendant, B.S.F. Company (hereafter "B.S.F."). The result has been to adjudge B.S.F. in default under the Indenture. In the event of default...

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