Legal Opinion
Adams v. Clearance Corporation
Supreme Court of Delaware
Decided February 29, 1956PublishedCited by 20 opinions
1Opinion of the Court
Southerland, Chief Justice:
This appeal brings up for review an order of the Vice Chancellor of September 27, 1955, denying a motion for a preliminary injunction seeking to restrain the voting of shares of a subsidiary deposited by the parent corporation in a voting trust.
The question presented is whether the voting trust is valid. It is attacked on two grounds: (1) as an unlawful delegation of the duties of the directors of the parent corporation; and (2) as an unlawful extension of a previously existing voting trust in respect of the shares of the parent corporation.
The facts are these:
A. F.…
2Cases cited13 opinions
- Allied Chemical & Dye Corp. v. Steel & Tube Co. of AmericaCourt of Chancery of Delaware · 1923
- Long Park, Inc. v. Trenton-New Brunswick Theatres Co.New York Court of Appeals · 1948
- Abercrombie v. DaviesCourt of Chancery of Delaware · 1956
- Perry v. Missouri-Kansas Pipe Line Co.Court of Chancery of Delaware · 1937
- Bodell v. General Gas & Electric Corp.Court of Chancery of Delaware · 1926
8 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- University Computing Co. v. Lykes-Youngstown Corp.Court of Appeals for the Fifth Circuit · 1974
- Sky Cable, LLC v. DirecTV, Inc.Court of Appeals for the Fourth Circuit · 2018
- Abercrombie v. DaviesCourt of Chancery of Delaware · 1956
- Manacher v. ReynoldsCourt of Chancery of Delaware · 1960
- Lehrman v. CohenSupreme Court of Delaware · 1966
15 more not listed; retrieve them via the Exa API.