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SINCLAIR OIL CORPORATION v. LEVIEN

280 A.2d 717 (1971)

SINCLAIR OIL CORPORATION, Defendant Below, Appellant, v. Francis S. LEVIEN, Plaintiff Below, Appellee.

Supreme Court of Delaware.

June 18, 1971.

Attorney(s) appearing for the Case

Henry M. Canby, of Richards, Layton & Finger, Wilmington, and Paul W. Williams, Floyd Abrams and Eugene R. Scheiman of Cahill, Gordon, Sonnett, Reindel & Ohl, New York City, for appellant.

Richard F. Corroon, Robert K. Payson, of Potter, Anderson & Corroon, Leroy A. Brill of Bayard, Brill & Handelman, Wilmington, and J. Lincoln Morris, Edward S. Cowen and Pollock & Singer, New York City, for appellee.

WOLCOTT, C. J., CAREY, J., and CHRISTIE, Judge, sitting.

WOLCOTT, Chief Justice.

This is an appeal by the defendant, Sinclair Oil Corporation (hereafter Sinclair), from an order of the Court of Chancery, 261 A.2d 911 in a derivative action requiring Sinclair to account for damages sustained by its subsidiary, Sinclair Venezuelan Oil Company (hereafter Sinven), organized by Sinclair for the purpose of operating in Venezuela, as a result of dividends...

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