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MARCIANO v. NAKASH

535 A.2d 400 (1987)

Georges MARCIANO, Maurice Marciano, Armand Marciano, and Paul Marciano, Plaintiffs Below, Appellants, v. Joe NAKASH, Ralph Nakash, Avi Nakash and Gasoline, Ltd., a Delaware corporation, Defendants Below, Appellees.

Supreme Court of Delaware.

Decided: December 23, 1987.

Attorney(s) appearing for the Case

William O. LaMotte, III (argued), Thomas C. Grimm and Leone L. Ciporin of Morris, Nichols, Arsht & Tunnell, Wilmington, and Marshall B. Grossman, Robert A. Shlachter and John A. Schwimmer of Alschuler, Grossman & Pines, Los Angeles, Cal., Of Counsel, for appellants.

Joseph A. Rosenthal (argued) of Morris, Rosenthal, Monhait & Gross, Wilmington, and Blank, Rome, Comisky & McCauley, Philadelphia, Pa., of counsel, for appellees.

Before HORSEY, MOORE and WALSH, JJ.

WALSH, Justice.

This is an appeal from a decision of the Court of Chancery which validated a claim in liquidation of Gasoline, Ltd. ("Gasoline"), a Delaware corporation, placed in custodial status pursuant to 8 Del.C. § 226 by reason of a deadlock among its board of directors. Fifty percent of Gasoline is owned by Ari, Joe, and Ralph Nakash (the "Nakashes") and fifty percent by Georges, Maurice, Armand and Paul...

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