[DOWNLOAD] "Irwin & Leighton v. W. M. Anderson Company" by New Castle Court of Chancery of Delaware ~ Book PDF Kindle ePub Free
eBook details
- Title: Irwin & Leighton v. W. M. Anderson Company
- Author : New Castle Court of Chancery of Delaware
- Release Date : January 29, 1987
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 77 KB
Description
This long-pending case raises the question whether a creditor who involved itself in the management of its troubled debtor
is to be held answerable for a liability of that debtor to a third person arising from a breach of contract. A number of theories
are advanced in order to extend liability to this creditor: that it controlled the contracting party and, in the circumstances,
should be deemed its alter ego; that it wrongfully interfered with the debtor completing its contractual obligations; and
that it participated in the violation of a Delaware statute, the Contractors Trust Fund Statute, 6 Del.C. § 3501
et seq. The troubled debtor is defendant W. M. Anderson Co. ("Anderson Co."), a Pennsylvania corporation, formerly engaged in the
business of mechanical construction. The creditor who became involved in the management of Anderson Co. is defendant Fidelity
and Deposit Company of Maryland ("Fidelity"), a Maryland corporation engaged in the business of acting as surety on payment
and performance bonds in connection with construction projects. Plaintiff is Irwin and Leighton, Inc. ("Irwin"), a Pennsylvania
corporation engaged in general contracting.