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SPITZER v. SHANLEY CORP.

No. 89 Civ. 8549 (MEL).

870 F.Supp. 565 (1994)

M. James SPITZER and Leonard Lichter, as Trustees Under Agreement dated May 10, 1987, Plaintiffs, v. SHANLEY CORPORATION, Shanley Production Company, Shanley Oil Company, Shanley Energy Company, John Shanley, and Neal McCabe, Defendants.

United States District Court, S.D. New York.

December 15, 1994.

Attorney(s) appearing for the Case

Spitzer & Feldman P.C., New York City (Ronald J. Offenkrantz, of counsel), for plaintiffs.

Cheryl B. Wattley P.C., Dallas, TX (Cheryl B. Wattley, of counsel), for defendants.

LASKER, District Judge.

Norstate Limited Partnership was created in Oklahoma for the purpose of investing in oil and gas wells in Oklahoma and Texas. Norstate's general partner, Shanley Production Company, is a wholly-owned subsidiary of Shanley Corporation, a Delaware corporation whose former CEO, Neal McCabe, is the sole defendant to have gone to trial in this action brought by Norstate's limited partners. The limited partners allege, among other things, that as...

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