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DALVA v. BAILEY

158 F.Supp. 204 (1957)

Maurice DALVA and Nathan Hausman, in Their Own Behalf as Stockholders of Defendant Pantepec Oil Company, A.C., and in Behalf of All Other Such Stockholders Similarly Situated, Plaintiffs, v. John S. BAILEY, John W. Buckley, Eduardo Lopez de Ceballos, Jose Melich Orsini, Santiage Segovia, John T. Sinclair, Jr., Guy K. Stewart, R. Ramirez U, Cecillio Velasco, G. J. van Wageningen, Phillips Petroleum Company and Pantepec Oil Company, C. A., Defendants.

United States District Court S. D. New York.

December 19, 1957.

Attorney(s) appearing for the Case

Block & Block, Sonnenschein & Sherman, Murray W. Greif, New York City, for plaintiff.

Coudert Brothers, New York City, for defendants Pantepec Oil Co., C. A., and Buckley.

Sullivan & Cromwell, New York City, for defendant Phillips Petroleum Co.

BICKS, District Judge.

Maurice Dalva and Nathan Hausman, stockholders of Pantepec Oil Company, instituted a derivative action in this Court on April 18, 1957. Upon Pantepec's motion for security for expenses pursuant to New York General Corporation Law, McKinney's Consol.Laws, c. 23, § 61-b, an order was made directing plaintiffs to file a bond in the amount of $50,000, "provided, however, that if, within sixty (60) days * * * joinder of additional stockholders...

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