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FENESTRA INC. v. GULF AMER. LAND CORP.

Calendar Nos. 13, 14, Docket Nos. 50,728, 50,738.

377 Mich. 565 (1966)

141 N.W.2d 36

FENESTRA INCORPORATED v. GULF AMERICAN LAND CORPORATION.

Supreme Court of Michigan.

Decided April 5, 1966.

Attorney(s) appearing for the Case

Butzel, Eaman, Long, Gust & Kennedy (Rockwell T. Gust, Victor W. Klein and John L. Vanker, of counsel), for plaintiff.

Dickinson, Wright, McKean & Cudlip (Edgar C. Howbert, W. Gerald Warren, and John E.S. Scott, of counsel), for defendants Gulf American Land Corporation, G.A.L.C. Co. and Rosen.

Dickinson, Wright, McKean & Cudlip, and Cole & Deitz, of New York City (Myron J. Weiss, of counsel), for defendants Friedman and Farley.

Honigman, Miller, Schwartz & Cohn (Avern Cohn, John Sklar, and Asher Rabinowitz, of counsel), for defendants Brainin, Taub, Projansky, Kaiserman, and Argus Capital Corporation.

Butzel, Levin, Winston & Quint (Henry H. Sills, Morris W. Stein, and Jerome S. Fanger, of counsel), for defendants Atkinson Corporation and Pritzker.

SMITH, J.

In brief, this is a suit brought by Fenestra, on authorization of a majority of its board of directors, against three groups of defendants who allegedly conspired to deliver control of Fenestra to Gulf (one of the three groups) for the purpose of having Fenestra's large amount of current assets exploited for the sole advantage of Gulf. The dollar amount involved is in excess of $6,000,000 and the stock interest involved is about 46% of the total common stock...

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