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STROH v. BLACKHAWK HOLDING CORP.

Gen. No. 69-35.

117 Ill. App.2d 301 (1969)

253 N.E.2d 692

Donald L. Stroh, et al., Plaintiffs-Appellees, v. Blackhawk Holding Corporation, an Illinois Corporation, Ronald C. Vorhies, et al., and Mondo Corporation, an Illinois Corporation, Defendants-Appellants.

Appellate Court of Illinois — Third District.

December 5, 1969.

Attorney(s) appearing for the Case

Mitchell and Russell, of Chicago (Thomas J. Russell, William H. Kelly, Jr., Gerald W. Shea, of Chicago, Mills & Roncone, of Lincoln, and Richard C. Ripple, of Carthage, of counsel), for appellants.

J. Stephen Crawford, Bishop and Crawford, of Chicago, and Froehling & Taylor, of Canton, for appellees.

ALLOY, J.

This is an appeal from a decree of the Circuit Court of Hancock County finding that the issue of 500,000 "Class B Shares" of defendant Blackhawk Holding Corporation, an Illinois corporation, do not constitute shares of stock and that the purported issuance thereof was an invalid and an ultra vires act of the defendant corporation and null and void ab initio. The basis for the finding of invalidity was a provision in the charter of the corporation with respect...

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