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SHANGHAI POWER CO. v. DELAWARE TRUST CO.

316 A.2d 589 (1974)

SHANGHAI POWER COMPANY, Plaintiff, v. DELAWARE TRUST COMPANY (as Successor Trustee under the Mortgage and Deed of Trust Dated as of February 1, 1933, by Shanghai Power Company), et al., Defendants.

Court of Chancery of Delaware, New Castle.

January 17, 1974.

Attorney(s) appearing for the Case

Rodney M. Layton, and R. Franklin Balotti, Richards, Layton & Finger, Wilmington, and Richard C. Allison, and Marvin G. Goldman, Reid & Priest, New York City for plaintiff Shanghai Power Co.

Hugh Corroon, Potter, Anderson & Corroon, Wilmington, for defendant Delaware Trust Co.

William E. Taylor, Jr., Wilmington, and Philip W. Coyle, and David J. Wynne, Brobeck, Phleger & Harrison, San Francisco, Cal., for defendant S. A. Judah.

BROWN, Vice Chancellor.

Upon the motion of the Plaintiff, Shanghai Power Company for summary judgment.

By its complaint Plaintiff Shanghai Power Company (hereafter referred to as "SPC") is seeking a declaratory judgment determining that two classes of corporate securities of which SPC is the issuer— namely, SPC's Silver Preferred Stock or 6 Tael Preferred Stock (hereafter referred to as "6 Tael Stock") and 5½ percent First Mortgage Debentures Due...

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