Nicholas L. Giuricich and Bodo Kalen v. - Supreme Court of Delaware

Nicholas L. Giuricich and Bodo Kalen v.

By Supreme Court of Delaware

  • Release Date: 1982-07-30
  • Genre: Law
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Nicholas L. Giuricich and Bodo Kalen v. Supreme Court of Delaware Book Review Score: ★★★★★ 5/5 stars

HERRMANN, Chief Justice The plaintiffs appeal the denial by the Court of Chancery of their petition for the appointment of a custodian pursuant to 8 Del.C. § 226(a)(1), 1 despite the existence of a shareholder deadlock between the plaintiffs, who own 50% of the stock of defendant Emtrol Corporation (hereinafter Emtrol), and Continental Boilerworks, Inc., (hereinafter Continental), which controls the remaining 50% of the stock. This deadlock has prevented the election of successor directors indefinitely. This is a case of first impression in this Court. I.

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