ELLIOTT ASSOCIATES, L.P. v. AVATEX CORP.

Nos. 279, 1998, 282, 1998.

715 A.2d 843 (1998)

ELLIOTT ASSOCIATES, L.P., a Delaware Limited Partnership, Plaintiff Below, Appellant, v. AVATEX CORPORATION, a Delaware corporation, Xetava Corporation, a Delaware corporation, Abbey J. Butler, Melvyn J. Estrin, Hyman H. Frankel, Fred S. Katz, Charles C. Pecarro, William A. Lemer, and John L. Wineapple, Defendants Below, Appellees, HARBOR FINANCE PARTNERS, LTD. and Anvil Investment Partners, L.P., Plaintiffs Below, Appellants, v. Abbey J. BUTLER, Melvyn J. Estrin, Hyman H. Frankel, Fred S. Katz, Charles C. Pecarro, William A. Lemer, John L. Wineapple and Avatex Corporation, Defendants Below, Appellees.

Supreme Court of Delaware.

Decided: August 28, 1998.


Attorney(s) appearing for the Case

David C. McBride (argued), Bruce L. Silverstein, and James P. Hughes, Jr., of Young, Conaway, Stargatt & Taylor, Wilmington, for appellant Elliott Associates, L.P.

Norman M. Monhait, of Rosenthal, Monhait, Gross & Goddess, Wilmington, and J. Frederick William Gerkens III, of Wechsler, Harwood, Halebian & Feffer, New York City, for appellants Harbor Finance Partners, Ltd. and Anvil Investment Partners, L.P.

Kevin G. Abrams (argued), Thomas A. Beck, Holly June Stiefel, and Thad J. Bracegirdle, of Richards, Layton & Finger, Wilmington, for appellees.

Before VEASEY, C.J., and WALSH, HOLLLAND, HARTNETT and BERGER, JJ., constituting the Court en Banc.


VEASEY, Chief Justice:

In this case of first impression, we hold that certain preferred stockholders have the right to a class vote in a merger where: (1) the certificate of incorporation expressly provides such a right in the event of any "amendment, alteration or repeal, whether by merger, consolidation or otherwise" of any of the provisions of the certificate of incorporation; (2) the certificate of incorporation that...

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