Texaco Antilles Ltd. v. Creque

OPINION OF THE COURT

I. STATEMENT OF THE CASE

This action involves a dispute over a 1963 contract between Margaret Creque [“Creque” or “appellee”] and Texaco Antilles Ltd. [“TAL”] in which TAL granted Creque a right of first refusal to purchase real estate [“the property”] owned by TAL in St. Thomas. In 1973, as part of a corporate restructuring directed by Texaco, Inc., TAL transferred to Texaco Caribbean Inc. [“TCI”, collectively with TAL, “appellants”] all of its assets and liabilities in several Caribbean islands including the U.S. Virgin Islands. Among the assets transferred was the…