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GRYNBERG v. BURKE

Civ. A. No. 5198.

410 A.2d 169 (1979)

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 December 11, 1979.

Attorney(s) appearing for the Case

David A. Drexler, of Morris, Nichols, Arsht & Tunnell, Wilmington, and Alan S. Weitz, and David J. Freeman, of Ginsburg, Feldman & Bress, Washington, D. C., for plaintiffs.

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

R. Franklin Balotti, of Richards, Layton & Finger, Wilmington, for the individual defendants as their interests may appear.

BROWN, Vice Chancellor.

This case is again before the Court on the cross-motions for summary judgment. Previously, motions be each side for summary judgment were denied. See Grynberg v. Burke, Del.Ch., 378 A.2d 139 (1977). The suit is an attempt by the plaintiffs to extricate themselves from the effect of an agreement entered into on February 10, 1976, as amended by a subsequent agreement...

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