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MILFORD POWER v. PDC MILFORD POWER

C.A. No. 506-N.

866 A.2d 738 (2004)

MILFORD POWER COMPANY, LLC, Plaintiff, and Milford Holdings, LLC, Intervenor, v. PDC MILFORD POWER, LLC, Defendant.

Superior Court of Delaware, New Castle County.

Decided: December 17, 2004.

Attorney(s) appearing for the Case

Thomas R. Hunt, Jr., Esquire, and David J. Teklits, Esquire, Morris, Nichols, Arsht & Tunnell, Wilmington, Delaware, Attorneys for Plaintiff Milford Power Co., LLC.

Richard I.G. Jones, Jr., Esquire, and Richard L. Renck, Esquire, Ashby & Geddes, Wilmington, Delaware, Attorney for Intervenor.

Richard G. Placey, Esquire, and Richard M. Donaldson, Esquire, Montgomery, McCracken, Walker & Rhoads, LLP, Wilmington, Delaware; Gary C. Crossen, Esquire, and Rebecca L. Tepper, Esquire, Rubin and Rudman, LLP, Boston, Massachusetts, Attorneys for PDC Milford Power, LLC.

OPINION

STRINE, Vice Chancellor.

The plaintiffs in this case, Milford Power Company, LLC and the owner of a 95% interest in Milford Power, Milford Holdings LLC, bring this case seeking a declaration that defendant PDC Milford Power, LLC ("PDC") has lost all membership interest in Milford Power as a result of its filing of a petition for bankruptcy on February 27, 2004. Although PDC's bankruptcy petition was dismissed, the plaintiffs nonetheless allege that...

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