Opinion ID: 1481578
Heading Depth: 1
Heading Rank: 2

Heading: Primary Contentions

Text: This dispute involves the parties' efforts to compromise and settle the Belzbergs' demand for a statutory appraisal of their ENSTAR stock holdings. According to the Belzbergs, negotiations between their attorney, Borisoff, and the attorney for ENSTAR, Richards, resulted in a valid and legally binding settlement. Therefore, the Belzbergs filed a motion to specifically enforce that agreement. The Belzbergs argue that the opinions and Final Order of the Court of Chancery properly granted that motion. ENSTAR asserts that no agreement was reached. Alternatively, ENSTAR argues that it would be inequitable to enforce the agreement. Both of ENSTAR's arguments are premised upon the fact that when Borisoff and Richards were negotiating, they both assumed that the Belzbergs still possessed their ENSTAR shares. Consequently, Borisoff and Richards never discussed whether or how to account for the Belzbergs' receipt of the merger consideration and the subsequent dividends received by the Belzbergs. Finally, ENSTAR asserts that the agreement specifically enforced by the Court of Chancery was not the agreement of the parties.