Arcadia Theatre Co. v. Sablosky

Opinion by

Mr. Justice O’Brien,

This appeal is part of a complex of litigation among the parties for control of the Arcadia Theatre Com-' *37pany, a Delaware Corporation. The sole asset of the corporation is an operating theatre in Philadelphia. The entire outstanding issue of stock of the corporation is sixty shares, of which forty shares are owned by Samuel and Edna Shapiro, husband and wife, as joint tenants with right of survivorship, and twenty shares are in the name of Morton J. Sablosky.

Marital difficulties arose between Samuel and Edna Shapiro and they separated in January, 1962. Their…