Shrage v. Bridgeport Oil Co., Inc.

Seitz, Vice Chancellor:

This is the decision on plaintiffs’ application for a preliminary injunction and receiver pendente lite.

Plaintiffs are stockholders of the defendant Bridgeport Oil Company, Inc., a Delaware corporation. By resolution of the defendant’s board of directors, and with subsequent adequate stockholder approval, the defendant corporation was dissolved pursuant to Section 39 of the General Corporation Law of Delaware, Rev.Code 1935 § 2071. At the time of the dissolution of defendant corporation, which was to take effect on April 30, 1949, its assets fell into four general…