Case Title: Kohls v. Kenetech Corporation et al.

Citation: 

Docket Number: 433, 2000

State: delaware

Court: Delaware Supreme Court

Date: 2002-04-05T00:00:00Z

Document:
IN THE SUPREME COURT OF THE STATE OF DELAWARE
ROBERT L. KOHLS and LOUISE A.
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KOHLS,
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No. 433, 2000
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Plaintiffs Below,
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Appellants,
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§
 v.
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Court Below:  Court of
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Chancery of the State of
KENETECH CORPORATION and
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Delaware in and for
MARK D. LERDAL, ANGUS M.
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New Castle County
DUTHIE, GERALD R. ALDERSON,
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C.A. No. 17763-NC
and CHARLES CHRISTENSON,
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Defendants Below,
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Appellees.
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Submitted: November 20, 2001
Decided:  April 5, 2002
Before VEASEY, Chief Justice, WALSH, HOLLAND, BERGER, Justices and
HARTNETT,* Justice (Retired), constituting the Court en Banc.
O R D E R
This 5th day of April, 2002, the Court, having considered this matter on the
briefs and arguments of the parties, and having concluded that the same should
be affirmed on the basis of and for the reasons assigned by the Court of Chancery
in its opinion dated July 26, 2000 without reaching the general question of
                                                 
* Sitting by designation pursuant to Del. Const. art. IV, §38 and 29 Del.C. §5610(a)(2).
2
whether or to what extent directors of a corporation said to be in the so-called
“vicinity of insolvency” owe fiduciary duties to preferred stockholders;
NOW, THEREFORE, IT IS HEREBY ORDERED that the judgment of
the Court of Chancery be, and the same hereby is
AFFIRMED.
BY THE COURT:
/s/ Carolyn Berger
Justice