E. B. R. CORPORATION v. PSL AIR LEASE CORPORATION


313 A.2d 893 (1973)

E.B.R. CORPORATION, a Delaware corporation, Defendant Below, Appellant, v. PSL AIR LEASE CORPORATION, a Delaware corporation, and Chan-Air, Inc., a Massachusetts corporation, Plaintiffs Below, Appellees.

Supreme Court of Delaware.

November 20, 1973.


Attorney(s) appearing for the Case

Paul P. Welsh, of Morris, Nichols, Arsht & Tunnell, Wilmington, for defendant below, appellant.

John P. Sinclair, of Potter, Anderson & Corroon, Wilmington, and Frank L. Bate, of Shanley & Fisher, Newark, N. J., for plaintiffs below, appellees.

HERRMANN, Chief Justice, and CAREY and DUFFY, Justices, sitting.


DUFFY, Justice:

This is an appeal from a summary judgment entered by the Superior Court for plaintiff, PSL Air Lease Corporation (PSL), a Delaware corporation, in an action on a guaranty agreement and a promissory note.1

I

E.B.R. Corporation (EBR), a Delaware corporation (defendant), was owned by Edwin, Brooke and Robert Matlack, three brothers who served as its directors. EBR owned a controlling interest in Flying W...

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