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SAXON INDUSTRIES, INC. v. NKFW PARTNERS

488 A.2d 1298 (1984)

SAXON INDUSTRIES, INC., a corporation of the State of Delaware, Defendant Below, Appellant, v. NKFW PARTNERS, a partnership, individually and on behalf of the Committee of Equity Security Holders of Saxon Industries, Inc., Plaintiff Below, Appellee.

Supreme Court of Delaware.

Decided: September 28, 1984.

Issued: February 15, 1985.

Attorney(s) appearing for the Case

Stephen E. Herrmann, Richards, Layton & Finger, Wilmington, David R. Hyde (argued) Cahill, Gordon & Reindel, and Alan B. Hyman, Burns, Summit, Rovins & Feldesman, New York City, for appellant.

John H. Benge, Jr. (argued) Allmond, Eastburn & Benge, Wilmington, and Stephen J. Blauner, Milbank, Tweed, Hadley & McCloy, New York City, for appellee.

Before McNEILLY, HORSEY and MOORE, JJ.

MOORE, Justice:

In this appeal we address a matter of first impression — the interaction of the Bankruptcy Code with the General Corporation Law of the State of Delaware. Saxon Industries, Inc. (Saxon) appeals an order of the Court of Chancery directing it to hold an annual stockholders' meeting to elect directors notwithstanding Saxon's pending reorganization under Chapter 11 of the Bankruptcy Code. The plaintiff, NKFW Partners (NKFW), owns stock in Saxon...

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