In re Virginia Beach Holding Corp.

By Judge Charles E. Poston

This cause comes before the Court on a petition by Kana Corporation, a Virginia corporation, praying for the appointment of a special receiver for Virginia Beach Holding Corporation (“VBHC”), a defunct Virginia corporation. Because this matter has been litigated previously in the Circuit Court of the City of Norfolk, a brief discussion of the prior litigation is necessary.

On March 12, 1999, the City of Virginia Beach filed a Bill of Complaint against Edwin B. Lindsley, Jr., Nala Corporation, Fala Corporation, and Kana Corporation, seeking to void a January 13, 1995,…