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P.H. GLATFELTER CO. v. LEWIS

Civ. A. No. 89-0049.

746 F.Supp. 511 (1990)

P.H. GLATFELTER COMPANY v. Perry J. LEWIS, individually and as representative of all former shareholders of Ecusta Corporation, and The Bank of New York.

United States District Court, E.D. Pennsylvania.

August 14, 1990.

Attorney(s) appearing for the Case

Richard Z. Freeman, Jr., Ballard, Spahr, Andrews & Ingersoll, Philadelphia, Pa., for plaintiff.

Perry J. Lewis by Ann B. Laupheimer, Blank, Rome, Comisky & McCautly, Philadelphia, Pa., and Arthur M. Holtzman, Chicago, Ill., for defendants.

MEMORANDUM-ORDER

CLIFFORD SCOTT GREEN, Senior District Judge.

I.

This case presents a unique and interesting question concerning the operation of certain contractual warranties supported by an indemnity agreement and an escrow fund from shareholders of an acquired enterprise, Ecusta Corporation, to the acquiring corporation, Plaintiff P.H. Glatfelter Company. The shareholders warranted, inter alia, that Ecusta had paid all income taxes due...

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