Territory of the United States Virgin Islands v. Goldman, Sachs & Co.

OPINION

STRINE, Vice Chancellor.

In this decision, I grant the motion of defendant Goldman, Sachs & Co. to dismiss a complaint against it by the U.S. Virgin Islands. The Virgin Islands seeks to recoup from Goldman Sachs distributions made to it from a dissolved corporation, Panex Industries, Inc., in 1984 and 1985, and in 1987 from a liquidating trust established during Panex’s dissolution, the Liquidating Trust. The Virgin Islands’ theory is that Goldman Sachs is liable, to the extent of its receipt of distributions from Panex and the Liquidating Trust, for any liabilities owed by Panex and…