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DALVA v. BAILEY

153 F.Supp. 548 (1957)

Maurice DALVA and Nathan Hausman, in Their Own Behalf as Stockholders of Defendant Pantepec Oil Company, C.A., 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, Santiago Segovia, John T. Sinclair, Jr., Guy K. Stewart, R. Ramirez U, Cecilio Velasco, G. J. van Wageningen, Phillips Petroleum Company and Pantepec Oil Company, C.A., Defendants.

United States District Court S. D. New York.

July 9, 1957.

Attorney(s) appearing for the Case

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

Coudert Brothers, New York City, for defendants Pantepec Oil Co., C. A., and John W. Buckley, Mahlon B. Doing, Joseph A. McManus, New York City, of counsel.

LEVET, District Judge.

This is a motion by defendant Pantepec Oil Company, C. A., hereinafter called Pantepec, directing the plaintiffs to give security pursuant to Section 61-b of the New York General Corporation Law, McKinney's Consol.Laws, c. 23 by reason of expenses, including attorneys' fees, which may be incurred by Pantepec in connection with this suit. Plaintiffs own 11,000 shares of Pantepec stock, which is less than 4/100ths of 1% of the outstanding stock...

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