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SHANGHAI POWER CO. v. DELAWARE TRUST CO.

526 A.2d 906 (1987)

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), and Abdoolally, Ebrahim & Co., and All Other Holders of the 6 Tael Preferred Stock of Shanghai Power Company, Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: April 15, 1987.

Attorney(s) appearing for the Case

R. Franklin Balotti, and William J. Wade, of Richards, Layton & Finger, Wilmington, Del., Richard C. Allison, and Peter C. Williams, of Reid & Priest, New York City, for plaintiff and Donald Mitchell, of Shanghai Power Company, Boise, Idaho, of counsel.

Irving Morris, and Kevin Gross, of Morris and Rosenthal, P.A., Wilmington, Del., and Eric W. Jorgensen, of Brobeck, Phleger & Harrison, San Francisco, Cal., for the Class Representative of the 6 Tael Preferred Stock of Shanghai Power Company.

Richard Greenberg, and David J. Anderson, of the Department of Justice of the United States, and William C. Carpenter, Jr., U.S. Atty. and Richard G. Andrews, Asst. U.S. Atty., for the District of Delaware, for Counterclaim defendant United States.

OPINION

BERGER, Vice Chancellor.

This is the decision on cross-motions for summary judgment brought by plaintiff, Shanghai Power Company ("Shanghai Power" or the "Company"), and the intervenor, the United States. The motions address Shanghai Power's counterclaim against the People's Republic of China (the "PRC") for amounts allegedly owed as a result of the PRC's expropriation of Shanghai Power's Chinese assets at the time the communists assumed control...

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