Salnita Corp. v. Walter Holding Corp.

The Chancellor:

The corporations for which receivers pendente lite are sought are holding companies. Annenberg holds fifty per cent, of the voting stock of each and is in control of their management. Each has four directors in office. He and his son are on the boards of each. So are Bannon and Murrhy, who hold the other fifty per cent, of the voting stock. From an investment *430standpoint, however, as distinguished from a voting one, the holdings of Bannon and Murray -of non-voting stock exceed those of Annenberg. The ratio of ownership of the two corporations is about sixty to forty and…