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GETTY OIL COMPANY v. SKELLY OIL COMPANY

255 A.2d 717 (1969)

GETTY OIL COMPANY, Plaintiff, v. SKELLY OIL COMPANY, Defendant.

Court of Chancery of Delaware, New Castle.

June 12, 1969.

Attorney(s) appearing for the Case

Henry M. Canby, of Richards, Layton & Finger, William S. Potter and Charles S. Crompton, Jr., of Potter, Anderson & Corroon, Wilmington, and Hecht, Hadfield, Hays, Landsman & Head, New York City, for plaintiff.

James M. Tunnell, Jr., and Walter K. Stapleton, of Morris, Nichols, Arsht & Tunnell, Wilmington, and Covington & Burling, Washington, D. C., for defendant.

DUFFY, Chancellor:

This is a declaratory judgment action by a corporate parent for the purpose of determining its duty, if any, to share quotas for the importation of crude oil into the United States with a subsidiary.

I

Getty Oil Company, a Delaware corporation, (Getty) owns (through Mission Corporation, a publicly owned holding company) 71% of the stock of Skelly Oil Company (Skelly). Skelly is also a Delaware corporation and the balance of its...

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