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GRYNBERG v. BURKE

388 A.2d 443 (1978)

Jack J. GRYNBERG, Celeste C. Grynberg, Celeste C. Grynberg as sole trustee for Rachel Grynberg, Stephen Grynberg and Miriam Grynberg, Celeste C. Grynberg and Dean Smernoff as co-trustees for Rachel Grynberg, Stephen Grynberg and Miriam Grynberg and Oceanic Holding Company, a Colorado Corporation, Plaintiffs, v. Gene E. BURKE, Marc Waucquez, William E. Foster, Wesley N. Farmer, Melvin M. Fenichell, Thomas J. Vogenthaler, Norman J. Singer and Oceanic Exploration Company, a Delaware Corporation, Defendants.

Court of Chancery of Delaware, New Castle.

Decided May 16, 1978.

Attorney(s) appearing for the Case

David A. Drexler, of Morris, Nichols, Arsht & Tunnell, Wilmington, for plaintiffs.

R. Franklin Balotti, and Donald A. Bussard, of Richards, Layton & Finger, Wilmington, for certain individual defendants.

Edward B. Maxwell, II, of Young, Conaway, Stargatt & Taylor, Wilmington, and Steven M. Umin, of Williams & Connolly, Washington, D. C., for defendant Oceanic Exploration Co.

BROWN, Vice Chancellor.

On June 24, 1977 the United States Supreme Court handed down its decision in the landmark case of Shaffer v. Heitner, 433 U.S. 186, 97 S.Ct. 2569, 53 L.Ed.2d 683. On September 9, 1977 certain of the individual defendants in this action, namely, Gene E. Burke, William E. Foster, Wesley N. Farmer, Thomas J. Vogenthaler and Norman J. Singer, moved to withdraw general...

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