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CITY INVESTING CO. v. CONTINENTAL CAS.

624 A.2d 1191 (1993)

CITY INVESTING COMPANY LIQUIDATING TRUST, Plaintiff Below, Appellant, v. CONTINENTAL CASUALTY CO., Defendant Below, Appellee.

Supreme Court of Delaware.

Decided: May 26, 1993.

Attorney(s) appearing for the Case

Richard L. Sutton, Jack B. Blumenfeld and Robert J. Valihura, Jr., Morris, Nichols, Arsht & Tunnell, Wilmington, and of counsel: Paul M. Dodyk (argued), and Matthew P. Morris, Cravath, Swaine & Moore, New York City, for appellant.

Barbara MacDonald and Neal C. Belgam, Morris, James, Hitchens & Williams, Wilmington, and of counsel: Robert W. Hayes (argued), and Karen Rosner, Cozen and O'Connor, Philadelphia, PA, for appellee.

Before HORSEY, WALSH, and HOLLAND, Justices.

WALSH, Justice:

In this appeal from the Court of Chancery, we address the question of whether a dissolved corporation, which established a liquidating trust to administer its assets during a post-dissolution period, is subject to a claim asserted beyond the three-year period established under Section 278 of the General Corporation Law. The Court of Chancery determined that the claim was not time-barred and was assertable...

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