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TR INVESTORS, LLC, v. GENGER

C.A. No. 6697-CS.

TR INVESTORS, LLC, GLENCLOVA INVESTMENT CO., NEW TR EQUITY I, LLC, NEW TR EQUITY II, LLC, and TRANS-RESOURCES, INC., Plaintiffs, v. ARIE GENGER and TPR INVESTMENT ASSOCIATES, INC., Defendants.

Court of Chancery of Delaware.

Decided: February 18, 2013.

Attorney(s) appearing for the Case

Thomas J. Allingham II, Esquire , Anthony W. Clark, Esquire , Robert A. Weber, Esquire , Douglas D. Herrmann, Esquire , Amy C. Huffman, Esquire , Christopher M. Foulds, Esquire , SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP, Wilmington, Delaware, Attorneys for Plaintiffs TR Investors, LLC, Glenclova Investment Co., New TR Equity I, LLC, New TR Equity II, LLC, and Trans-Resources, Inc.

Stephen P. Lamb, Esquire , Meghan M. Dougherty, Esquire , Joseph L. Christensen, Esquire , Laura C. Bower, Esquire , Justin A. Shuler, Esquire , PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP, Wilmington, Delaware; Eric Alan Stone, Esquire , PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP, New York, New York, Attorneys for Defendant Arie Genger.

Matt Neiderman, Esquire , Gary W. Lipkin, Esquire , Benjamin A. Smyth, Esquire , DUANE MORRIS LLP, Wilmington, Delaware, Attorneys for Defendant TPR Investment Associates, Inc.

MEMORANDUM OPINION

STRINE, Chancellor.

I. Introduction

This is a motion for summary judgment in a long-running dispute over the ownership of Trans-Resources, a Delaware corporation. The plaintiffs are the Trump Group, which took a 47% stake in Trans-Resources in 2001. The defendants are Arie Genger, the founder of Trans-Resources, and TPR Investment Associates, the holding company through which Genger owned Trans-Resources. After the...

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