AMERICAN HOME ASSURANCE COMPANY, General Electric Credit Corporation, GMAC Commercial Corporation, Grange Mutual Casualty Company, McDonnell Douglas Finance Corporation, MIC Property & Casualty Insurance Corporation, Motors Insurance Corporation, Nationwide Life Insurance Company, Progressive American Insurance Company, Progressive Casualty Insurance Company, Progressive Specialty Insurance Company, Transatlantic Reinsurance Company, Westinghouse Credit Corporation, Plaintiffs-Appellees.
v.
BALTIMORE GAS & ELECTRIC COMPANY, Defendant-Appellant.
United States Court of Appeals, Second Circuit.https://leagle.com/images/logo.png
Argued December 14, 1987.
Decided April 21, 1988.
Attorney(s) appearing for the Case
Loretta A. Preska, New York City (Craig J. Albert, Anthony L. Paccione, Hertzog, Calamari & Gleason, New York City, of counsel), for defendant-appellant.
James W.B. Benkard, New York City (James L. Kerr, Denis J. McInerney, Davis, Polk & Wardwell, New York City, of counsel), for plaintiffs-appellees.
Louis H. Willenken, Peter C. Williams, Philip R. Brown, Reid & Priest, New York City, for amicus curiae Pennsylvania Power & Light Co.
Before MESKILL, KEARSE and MAHONEY, Circuit Judges.
United States Court of Appeals, Second Circuit.
MESKILL, Circuit Judge:
The issue on this appeal is the proper interpretation of Section 6.2 of the Preference Stock Purchase Agreement (the Agreement) that defendant-appellant Baltimore Gas & Electric Company ("BG & E" or "the Company") entered into with a number of sophisticated institutional investors, including the plaintiffs-appellants in this action, American Home Assurance Company, et al. (the Holders...
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