Uniroyal, Inc. v. Coleman

Opinion by

Judge Mencer,

On December 22, 1972, the Masland Duraleather Company, a Pennsylvania corporation (Masland), and its sole shareholder, TJniroyal, Inc., a New Jersey corporation (TJniroyal), adopted a plan of liquidation and dissolution of Masland. The plan provided that, in complete liquidation, as of the close of business on December 29, 1972, Masland would distribute all its assets, in. cash and in kind, to TJniroyal.

Thereafter, and in order to confirm that which had occurred by liquidation, Masland executed, acknowl*598edged, and delivered six deeds to Uniroyal relative to six parcels…