Delta Oil Co. v. Arnold

This case began with the filing by Delta Oil Company, Inc., of an action in Cook County circuit court for a declaratory judgment that Lloyd Arnold has no interest in an oil drilling venture called State-Chester 3-30, and is entitled to a refund of *25,000 paid in connection with that venture, but no other payments. Arnold then filed an answer, a two-part counterclaim against Delta and a third-party complaint against James Kokenis, president and majority stockholder of Delta. In the counterclaim and third-party claim, Arnold sought enforcement of an alleged agreement he made with Delta under…