Equity Corp. v. Groves

Harrington, Chancellor:

The Equity Corporation, the complainant, an investment corporation, was organized in 1932, and in 1935 Interstate Equities Corporation and Chain & General Equities, Inc. (both Delaware corporations) , hereinafter respectively referred to as “Interstate” and “Chain & General”, also investment companies, merged with the complainant, which succeeded to all of their property rights and franchises. This action is being prosecuted by The Equity Corporation, the complainant, as the successor to those two corporations.

The bill alleges that in September of 1931 Wallace Groves,…