Shanghai Power Co. v. Delaware Trust Co.

BROWN, Vice Chancellor.

Upon the motion of the Plaintiff, Shanghai Power Company for summary judgment.

By its complaint Plaintiff Shanghai Power Company (hereafter referred to as “SPC”) is seeking a declaratory judgment determining that two classes of corporate securities of which SPC is the issuer— namely, SPC’s Silver Preferred Stock or 6 Tael Preferred Stock (hereafter referred to as “6 Tael Stock”) and 5j/¿ percent First Mortgage Debentures Due 1973 (hereafter referred to as “Debentures”) are without value.

Such relief is opposed by the Defendant Delaware Trust Company (hereafter “Delaware…