Sheppard v. Carey

DUFFY, Chancellor:

In this action Owen F. Sheppard, Jr. (Sheppard) seeks an order requiring defendant Allen F. Carey (Carey) to deliver to him 395 shares of the common stock of Marine Construction Company, a Delaware corporation, and 5,165 shares of its preferred stock. This is the decision after final hearing.

I

Marine Construction was organized in 1919 and has outstanding 990 shares of common (voting) stock and 150,000 shares of 6% preferred. Prior to 1968 neither Sheppard nor Carey had any interest in the corporation. On January 1, 1968 Sheppard acquired a half interest in a tug and fishing…