Legal Opinion
Prudential Oil Corporation v. Phillips Petroleum Company
Court of Appeals for the Second Circuit
Decided December 1, 1976No. 324, Docket 76-7207PublishedCited by 61 opinions
1Opinion of the Court
MANSFIELD, Circuit Judge:
This appeal raises the question of whether federal diversity jurisdiction may be acquired through the assignment by a non-diverse parent corporation of its claim to a newly-created, 100 percent owned diverse subsidiary, which owns no other assets and is engaged solely in the prosecution of the claim. In this case the parent, Prudential Equities, a Delaware corporation (“Prudential-Delaware”), assigned its claim against appellant Phillips Petroleum Company (“Phillips”), also a Delaware corporation, to Prudential Oil Corporation (“Prudential-New York”), a New York…
2Cases cited14 opinions
- Zenith Radio Corp. v. Hazeltine Research, Inc.Supreme Court of the United States · 1969
- Bank of the United States v. DeveauxSupreme Court of the United States · 1809
- Kramer v. Caribbean Mills, Inc.Supreme Court of the United States · 1969
- Lehigh Mining & Manufacturing Co. v. KellySupreme Court of the United States · 1895
- Fed. Sec. L. Rep. P 93,503 Paul S. Dopp v. Franklin National Bank, and Butler Aviation International, Inc.Court of Appeals for the Second Circuit · 1972
9 more not listed; retrieve them via the Exa API.
3Cited by61 opinions
- The Branson Label, Inc. v. City of BransonCourt of Appeals for the Eighth Circuit · 2015
- McCulloch v. Velez-MalaveCourt of Appeals for the First Circuit · 2004
- Ambrosia Coal v. Hector Carlos Pages MoralesCourt of Appeals for the Eleventh Circuit · 2007
- Nike, Inc. v. Comercial Iberica de Exclusivas Deportivas, S.A.Court of Appeals for the Ninth Circuit · 1994
- Matao C. Yokeno v. Ramon C. MafnasCourt of Appeals for the Ninth Circuit · 1992
56 more not listed; retrieve them via the Exa API.