ANGLO AM. SEC. FUND v. S.R. GLOBAL FUND

C.A. No. 20066-NC.

829 A.2d 143 (2003)

ANGLO AMERICAN SECURITY FUND, L.P., Diversified Long Term Growth Fund, L.P., Sterling Grace Capital Management, L.P., Drake Associates, L.P., the Lorraine G. Grace Trust 1487 and Oliver R. Grace Junior Trust 90 II, Plaintiffs, v. S.R. GLOBAL INTERNATIONAL FUND, L.P., Sloane Robinson Investment (Cayman), Ltd. and Ernst & Young LLP, Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: August 4, 2003.


Attorney(s) appearing for the Case

Kurt M. Heyman, Patricia L. Enerio, James Tobia and Christal Lint, of the Bayard Firm, Wilmington; Martin P. Unger, John Gionis and Candace Reid Gladston, of Certilman Balin Adler & Hyman, LLP, East Meadow, NY, of counsel, for Plaintiffs.

Bruce E. Jameson and Allyson A. McKenzie, of Prickett, Jones & Elliott, P.A., Wilmington; Robert A. Cohen and Charles I. Poret, of Dechert, LLP, New York City, of counsel, for S.R. Global International Fund, L.P. and Sloane Robinson Investment (Cayman), Ltd.

Allen M. Terrell, Jr., Daniel A. Dreisbach, Paul D. Brown and James H. McMackin, III, of Richards, Layton & Finger, P.A., Wilmington, for Defendant Ernst & Young, LLP.


OPINION

CHANDLER, Chancellor.

Plaintiffs, Anglo American Security Fund, L.P., Diversified Long Term Growth Fund, L.P., Sterling Grace Capital Management, L.P., Drake Associates, L.P., The Lorraine G. Grace Trust 1487, and Oliver R. Grace Junior Trust 90 II, bring this action against defendants, S.R. Global International Fund, L.P. (the "Fund") Sloane Robinson Investment (Cayman), Ltd., ("Sloane") the general partner of the Fund, and Ernst & Young...

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