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GULF CORP. v. MESA PETROLEUM CO.

Civ. A. No. 84-75-WKS.

582 F.Supp. 1110 (1984)

GULF CORPORATION and Gulf Oil Corporation, Plaintiffs, v. MESA PETROLEUM CO., Mesa Asset Co., Mesa Offshore Co., Sunshine Mining Co., First City Properties, Inc., Drexel Burnham Lambert Inc., Defendants. MESA PETROLEUM CO., Mesa Asset Co. and Mesa Offshore Co., Counterclaim and Third Party Plaintiffs, v. GULF CORPORATION, Gulf Oil Corporation, James E. Lee, Edward B. Walker, III, Edwin I. Colodny, R. Hal Dean, Robert Dickey, III, Julian Goodman, J. Peter Gordon, Harold H. Hammer, James H. Higgins, Jerry McAfee, Edwin Singer and James M. Walton, Counterclaim and Third Party Defendants.

United States District Court, D. Delaware.

March 8, 1984.

Attorney(s) appearing for the Case

Lewis S. Black, Jr., William O. LaMotte, III, A. Gilchrist Sparks, III, Thomas Reed Hunt, Jr., Lawrence A. Hamermesh, Jack B. Blumenfeld, Michael Houghton, Morris, Nichols, Arsht & Tunnell, Wilmington, Del., John L. Warden, Robert C. Bata, Sullivan & Cromwell, New York City, Robert A. Nailling, Pittsburgh, Pa., for plaintiffs.

Charles F. Richards, Jr., E. Norman Veasey, Stephen E. Herrmann, William J. Wade, Jesse A. Finkelstein, Samuel A. Nolen, Richards, Layton & Finger, Wilmington, Del., for defendants.

Lawrence C. Ashby, Ashby, McKelvie & Geddes, Wilmington, Del., Raymond L. Falls, Jr., Charles A. Gilman, Kenneth E. Meister, Joseph I. Loonan, Cahill Gordon & Reindel, New York City, for Drexel Burnham Lambert Inc.

Robert K. Payson, Potter, Anderson & Corroon, Wilmington, Del., for First City Properties, Inc.

OPINION

STAPLETON, Chief Judge:

This action was commenced on February 10, 1984, by Gulf Corporation, a Delaware corporation, and Gulf Oil Corporation, a Pennsylvania corporation (collectively, "Gulf"). Gulf's complaint names as defendants Mesa Petroleum Co., Mesa Asset Co. and Mesa Offshore Co., each of which is a Delaware corporation (collectively, except where the context otherwise requires, "Mesa"); Sunshine Mining Co., a Delaware corporation ("Sunshine...

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