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SUNDLUN v. EXECUTIVE JET AVIATION, INC.

273 A.2d 282 (1970)

Bruce G. SUNDLUN, Plaintiff, and Detroit Bank & Trust Company, Intervening Plaintiff, v. EXECUTIVE JET AVIATION, INC., a corporation of the State of Delaware, Lassiter Aircraft Corporation, a corporation of the State of Delaware, Olbert F. Lassiter, Woodrow P. Swancutt, and Perry M. Hoisington, III, Defendants, and Eloise Minor, Intervening Defendant.

Court of Chancery of Delaware, New Castle County.

December 28, 1970.

Attorney(s) appearing for the Case

Edmund N. Carpenter, II, and Richard J. Abrams, of Richards, Layton & Finger, Wilmington, for plaintiff, Bruce G. Sundlun.

Hugh L. Corroon, of Potter, Anderson & Corroon, Wilmington, for intervening plaintiff, Detroit Bank & Trust Co.

Henry N. Herndon, of Morris, James, Hitchens & Williams, Wilmington, for defendant, Executive Jet Aviation, Inc.

Irving Morris and Joseph A. Rosenthal, of Cohen, Morris & Rosenthal, Wilmington, Harold B. Dondis, Edwin J. Carr, William F. Griffen, Jr., of Rich, May & Bilodeau, Boston, Mass., for defendant Olbert F. Lassiter.

S. Samuel Arsht and William O. LaMotte, 3d, of Morris, Nichols, Arsht & Tunnell, Wilmington, for defendant Perry M. Hoisington, III.

Joseph A. Rosenthal, of Cohen, Morris & Rosenthal, Wilmington, for intervening defendant, Eloise Minor, and appearing specially for defendant Woodrow P. Swancott.

DUFFY, Chancellor:

A contest for control of Executive Jet Aviation, Inc. (EJA), a Delaware corporation, is at issue in this case, and each side has moved for summary judgment as to Count Four of the complaint, which seeks a determination of the validity of the election of directors.

A.

EJA was founded in 1964 by General O. F. Lassiter, one of the defendants. American Contract Company (ACC), a wholly-owned subsidiary of the Penn Central Transportation...

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