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DELTA HOLDINGS v. NATIONAL DISTILLERS

No. 355, Docket 90-7528.

945 F.2d 1226 (1991)

DELTA HOLDINGS, INC., Plaintiff-Appellee, v. NATIONAL DISTILLERS AND CHEMICAL CORPORATION, Defendant-Appellant.

United States Court of Appeals, Second Circuit.

Decided October 1, 1991.

Attorney(s) appearing for the Case

Joseph P. Dailey, New York City (Loren F. Selznick, James T. Southwick, Breed, Abbott & Morgan, of counsel), for defendant-appellant.

David Klingsberg, New York City (Paul J. Curran, Alan F. Goott, Michael Braff, Joshua N. Lief, Kaye Scholer, Fierman, Hays & Handler, of counsel), for plaintiff-appellee.

Before KAUFMAN, NEWMAN and WINTER, Circuit Judges.

WINTER, Circuit Judge:

This factually complex litigation arises out of a dispute over the disclosure of documents, representations, and warranties made by National Distillers and Chemical Corporation ("Distillers") in connection with the sale of its wholly-owned subsidiary, Elkhorn Re Insurance Company ("Elkhorn"), to Delta Holdings, Inc. ("Delta"). Following a bench trial before Judge Keenan, the district court held that Distillers violated federal securities law...

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