Bank of America National Trust & Savings Ass'n v. GAC Properties Credit, Inc.

HARTNETT, Vice Chancellor.

These two actions, commenced in 1975, were previously consolidated for trial. In Farland v. Wills, C.A. # 4888 (Farland case), the action was brought by Leo W. Farland, a non-resident of Delaware, who was a holder of GAC Properties Credit, Inc. (Credit) 12% debentures, on his behalf and on behalf of all similarly situated holders of debentures, against four corporate defendants (three of which are Delaware corporations, including Credit) and five individual non-resident defendants (Wills, Kemmerer, Ring, Stuken, and Powell). The corporate defendants are…