Shrage v. Bridgeport Oil Co.

Seitz, Vice Chancellor:

This is a decision after final hearing in a stockholder’s suit attacking the fairness of a plan of dissolution. A preliminary injunction was denied in this matter in an opinion reported ante p. 203, 68 A. 2d 317.

At the time of dissolution the defendant corporation’s assets fell into four groups:(1) Interests in oil and gas producing leases, equipment used in connection therewith or allocated thereto, and royalty interests;(2) Interest in leases for non-producing or “wildcat acreage”;(3) Cash and bonds converted into cash; and(4) Material and supplies not allocated to…