Swacker v. Pennroad Corp.

Richards, Chief Justice,

delivering the opinion of the court:

The history of this case was set forth in the opinion handed down by this court on May 10, 1946, reported in Perrine, et al. v. Pennroad Corp., 29 Del. Ch. 531, 47 A. 2d 479, and it would serve no purpose to restate it here.

Under the terms of the settlement agreement which was entered into by Pennsylvania Railroad Company and The Pennroad Corporation, $15,000,000 was paid by Pennsylvania Railroad Company to The Pennroad Corporation, and $12,000,000 of this amount was retained by said Penn-road Corporation for the sole benefit of the…