IRWIN & LEIGHTON v. W.M. ANDERSON CO.

Civ. A. No. 6628.

532 A.2d 983 (1987)

IRWIN & LEIGHTON, INC., a Pennsylvania corporation, Plaintiff, v. W.M. ANDERSON COMPANY, a Pennsylvania corporation, Fidelity and Deposit Company of Maryland, a Maryland corporation, and Construction Management Associates, a New Jersey corporation, Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: August 11, 1987.

Revised: September 29, 1987.


Attorney(s) appearing for the Case

Walter P. McEvilly, Jr., and Amelia L. Bland, of Prickett, Jones, Elliott, Kristol & Schnee, Wilmington, for plaintiff.

Josy W. Ingersoll, and Frederick W. Iobst, of Young, Conaway, Stargatt & Taylor, Wilmington, for defendant Fidelity and Deposit Co. of Maryland.


OPINION

ALLEN, Chancellor.

This long-pending case raises the question whether a creditor who involved itself in the management of its troubled debtor is to be held answerable for a liability of that debtor to a third person arising from a breach of contract. A number of theories are advanced in order to extend liability to this creditor: that it controlled the contracting party and, in the circumstances, should be deemed its alter ego; that it wrongfully...

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