MERRILL LYNCH v. NORTH EUROPEAN OIL ROYALTY


490 A.2d 558 (1985)

MERRILL LYNCH PIERCE FENNER & SMITH, INC. and Goodbody & Company, Petitioners Below, Appellants, v. NORTH EUROPEAN OIL ROYALTY TRUST and The Trustees of the North European Oil Royalty Trust, Respondents Below, Appellees.

Supreme Court of Delaware.

Decided: March 6, 1985.


Attorney(s) appearing for the Case

John E. James, Potter Anderson & Corroon, Wilmington, for appellants.

Lawrence A. Hamermesh, Morris, Nichols, Arsht & Tunnell, Wilmington, for appellees.

Before HERRMANN, C.J., McNEILLY and MOORE, JJ.


HERRMANN, Chief Justice:

The determinative issue before the Court in this case is whether, before issuing replacement certificates for those lost, stolen or destroyed, a Delaware corporation may require brokerage houses to supply independent credible evidence that they are the beneficial owners of stock registered in their names. We hold with the Court of Chancery that such requirement may be made. Accordingly, we affirm...

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