Alan R. Kahn v. Seaboard Corporation Book Reviews
Alan R. Kahn v. Seaboard Corporation by New Castle Court of Chancery of Delaware Book Summary
ALLEN, Chancellor The complaint purports to be brought derivatively on behalf of Seaboard Corporation against Seaboard's controlling
(75 %) stockholder, Seaboard Flour Corporation ("Flour") and three individuals who comprise the board of directors of Seaboard,
two of whom are the controlling (71 %) shareholders of Flour. The charge is that the individual defendants "required the Company
to enter into numerous transactions with Flour . . . which benefit Flour at the Company's expense." Cplt. P5. Identified are
three transactions, only one of which is relevant to the present motion. It concerns a ten year time charter of seven vessels
entered into in 1986 between a wholly owned subsidiary of Seaboard ("Overseas Limited") and subsidiaries of H & O Shipping
Ltd., a subsidiary of Flour. It is alleged that: Pursuant to said agreements, Overseas is required to pay substantial management fees and other sums, purportedly for administration
and insurance (collectively "Fees"), in addition to time charter costs. For the year ended December 31, 1986, Overseas paid
$3,347,000 in time charter costs and an additional $4,273,000 in fees. For the year ended December 31, 1987, Overseas paid
$3,019,000 in time charter costs and an additional $3,609,000 in fees.
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| Book Name | Alan R. Kahn v. Seaboard Corporation |
| Genre | Law |
| Author | New Castle Court of Chancery of Delaware |
| Published | 14 January 1993, Thursday |
| Language | English |
| E-Book Size | 69.19 KB |
Alan R. Kahn v. Seaboard Corporation (New Castle Court of Chancery of Delaware) Book Reviews 2024
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Summary of Alan R. Kahn v. Seaboard Corporation by New Castle Court of Chancery of Delaware
The Alan R. Kahn v. Seaboard Corporation book written by New Castle Court of Chancery of Delaware was published on 14 January 1993, Thursday in the Law category. A total of 120 readers of the book gave the book 0 points out of 5.
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