Toklan Royalty Corporation v. Jones

CHANDLER, District Judge.

Findings of Fact.

The Court finds:

1. The facts as stipulated by the parties.

2. Imperial Royalties Company on December 1, 1936, was a statutory business trust organized under the laws of Oklahoma, engaged in a general oil and gas royalty business, with approximately 9600 shareholders and with a period of life expiring, under the limitations of the Trust Agreement, as Amended, on December 1, 1940.

3. Toklan Royalty Corporation is a corporation organized under the laws of the State of Delaware, having been created pursuant to a proposed Plan for the transfer to it of the…