Margaret Creque v. Texaco Antilles Ltd., A/k/a/ Texaco Antilles Limited, and Texaco Caribbean

NYGAARD, Circuit Judge.

This case calls upon us to decide whether a conveyance of real property between two subsidiary corporations, each wholly-owned by the same parent, is the equivalent of a “bona fide offer to purchase” triggering a right of first refusal on the property. The District Court answered this question in the negative. We will affirm.

I

In 1957, Appellant Margaret Creque purchased a tract of land known as Lot No. 1A Estate Demerara, St. Thomas, U.S. Virgin Islands. In 1963, Texaco Antilles Ltd. (“TAL”), a Canadian corporation and a wholly-owned subsidiary of Texaco, Inc., acquired…