Vilone v. Sea & Pines Consolidation Corp.

OPINION

BERGER, Vice-Chancellor.

This action involves a dispute over plaintiffs’ alleged interest in a land development project in Bethany Beach, Delaware. Plaintiffs, Richard F. Vilone and Carmine Crisconi, Jr., and the individual defendants, Mario Capano (“Mario”), Joseph L. Capano (“Joseph”) and Louis J. Capano (“Louis”) are all engaged in the business of real estate development. In 1985, Mario and Joseph were interested in acquiring several large parcels of undeveloped land located south of Indian River Inlet, Sussex County, Delaware for residential development. However, they had been…