Legal Opinion
Odyssey Partners, L.P. v. Fleming Companies, Inc.
Court of Chancery of Delaware
Decided May 13, 1999No. Civil Action 14770PublishedCited by 48 opinions
1Opinion of the Court
OPINION
LAMB, Vice Chancellor.
I. INTRODUCTION
This action arises out of a foreclosure sale at which defendant Fleming Co., Inc. (“Fleming”) acquired 100% of the stock of ABCO Markets Inc. (“ABCO Markets”), the operating subsidiary of ABCO Holding, Inc. (“ABCO”). At the time of the sale, Fleming was both the majority stockholder and sole secured creditor of ABCO, that debt being secured by a pledge of essentially all ABCO’s assets, including the ABCO Markets stock. Several persons appeared at the foreclosure sale, but Flem ing made the only bid, equal to the value of the debt foreclosed. By a…
2Cases cited23 opinions
- Aronson v. LewisSupreme Court of Delaware · 1984
- Weinberger v. UOP, Inc.Supreme Court of Delaware · 1983
- Rales v. Blasband Ex Rel. Easco Hand Tools, Inc.Supreme Court of Delaware · 1993
- Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc.Supreme Court of Delaware · 1986
- Paramount Communications Inc. v. QVC Network Inc.Supreme Court of Delaware · 1994
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3Cited by48 opinions
- Telxon Corporation v. MeyersonSupreme Court of Delaware · 2002
- In Re infoUSA, Inc. Shareholders LitigationCourt of Chancery of Delaware · 2007
- Official Committee of Unsecured Creditors of Fedders North America, Inc. Ex Rel. Debtors' Estates v. Goldman Sachs Credit Partners L.P. (In Re Fedders North America, Inc.)United States Bankruptcy Court, D. Delaware · 2009
- Nisselson v. Softbank Am Corp. (In Re MarketXT Holdings Corp.)United States Bankruptcy Court, S.D. New York · 2007
- Benihana of Tokyo, Inc. v. Benihana, Inc.Court of Chancery of Delaware · 2005
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