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WILMINGTON TRUST CO. v. LATCHUM

44 F.Supp. 411 (1942)

WILMINGTON TRUST CO. v. LATCHUM.

District Court, D. Delaware.

March 23, 1942.

Attorney(s) appearing for the Case

J. J. Morris, Jr., of Wilmington, Del. (Bradford S. Magill, of New York City, of counsel), for plaintiff.

Charles Stewart Lynch, U. S. Atty., of Wilmington, D. C., Samuel O. Clark, Jr., Asst. Atty. Gen., and Andrew D. Sharpe and E. E. Angevine, Sp. Assts. to Atty. Gen., for defendant.

W. CLARK, Circuit Judge.

The facts are stipulated and may be stated briefly. Utilities Employees Securities Company (hereinafter called UESCO) was not qualified to carry on business in Massachusetts. It therefore organized the New England Capital Corporation (hereinafter called NECAP) under the laws of Massachusetts in 1934. Subsequently UESCO became qualified to do business in Massachusetts. At this time UESCO owned all of the issued common and preferred stock of...

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