HOLLINGER INTERNATIONAL, INC., Plaintiff,
v.
Conrad M. BLACK, Hollinger, Inc. and 504468 N.B. Inc., Defendants. and
Cardinal Value Equity Partners, LP, Press Holding International Limited, and Press Acquisition Inc., Intervenors.
Conrad M. Black, Hollinger Inc., and 504468 N.B. Inc., Counterclaim-Plaintiffs,
v.
Hollinger International, Inc., Counterclaim-Defendant,
v.
Richard C. Breeden, Richard Breeden & Co., Gordon A. Paris, James R. Thompson, Richard D. Burt, Henry A. Kissinger, Richard N. Perle, Shmuel Meitar, Graham W. Savage and Raymond G.H. Seitz, Additional Counterclaim-Defendants.
Court of Chancery of Delaware, New Castle County.https://leagle.com/images/logo.png
Submitted: February 22, 2004.
Decided: February 26, 2004.
Attorney(s) appearing for the Case
David C. McBride, Bruce L. Silverstein, C. Barr Flinn, Rolin P. Bissell, Christian Douglas Wright, Stephen E. Smith, and Glenn C. Mandalas, Young Conaway Stargatt & Taylor, LLP, Wilmington; Martin Flumenbaum, Leslie Gordon Fagen, Daniel J. Kramer, and Robert A. Atkins, Paul, Weiss, Rifkind, Wharton & Garrison, LLP, New York City, for Plaintiff and Counterclaim Defendant Hollinger International Inc.
Jesse A. Finkelstein, Raymond J. DiCamillo, Candice M. Toll, Becky A. Allen, Michael R. Robinson, and Elizabeth C. Tucker, Richards, Layton & Finger, P.A., Wilmington, for Defendants Conrad M. Black, Hollinger Inc., and 504468 N.B. Inc.; John L. Warden, David H. Braff, and James V. Masella, III, Sullivan & Cromwell, LLP, New York City, for Conrad M. Black; Gregory P. Joseph, Sandra M. Lipsman, Douglas J. Pepe, Gregory P. Joseph Law Offices, LLC, New York City, for Hollinger Inc. and 504468 N.B. Inc.
R. Bruce McNew, Taylor & McNew, LLP, Greenville, for Intervenor-Plaintiff Cardinal Value Equity Partners, LP.
Paul J. Lockwood and Kay P. Lawson, Skadden, Arps, Slate, Meagher & Flom, LLP, Wilmington; Robert E. Zimet, Christopher P. Malloy, and William J. O'Brien, III, Skadden, Arps, Slate, Meagher & Flom, LLP, New York City, for Intervenors Press Holdings International Limited and Press Acquisition Inc.
Andre G. Bouchard and Joel Friedlander, Bouchard Margules & Friedlander, Wilmington; Robert E. Curry, Kirby McInerney & Squire, LLP, New York City, for Tweedy, Browne Company, LLC.
David A. Jenkins and Dominick T. Gattuso, Smith, Katzenstein & Furlow, LLP, Wilmington, for Coastal Income Corp.
Court of Chancery of Delaware, New Castle County.
OPINION
STRINE, Vice Chancellor.
As former Chancellor Allen has said, the most interesting corporate law cases involve the color gray, with contending parties dueling over close questions of law, in circumstances when it is possible for each of the contestants to claim she was acting in good faith.1 Regrettably, this case is not one of that variety.
Rather, in this case, defendant Conrad M. Black, the ultimate controlling...
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