Kronenberg v. Katz
Court of Chancery of Delaware
1Opinion of the Court
OPINION
STRINE, Vice Chancellor.
Defendant Samuel Katz met plaintiff William Kronenberg in the late 1990s. Kronenberg admired Katz and became a large contributor to Katz’s campaign for Mayor of Philadelphia. Eventually, Katz and Kronenberg discussed going into business together. At that time, Katz had businesses — EnterSport Capital Advisors, Inc. (“EnterSport”) and American Skating, LLC — that were focused on making money through the stimulation of the construction of community sports facilities such as ice skating rinks. The basic idea was to get communities to fund -the construction and for…
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