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IN RE KRAFFT-MURPHY CO., INC.

C.A. No. 6049-VCP.

62 A.3d 94 (2013)

In the Matter of KRAFFT-MURPHY COMPANY, INC., a dissolved Delaware Corporation.

Court of Chancery of Delaware.

Decided: February 4, 2013.

Attorney(s) appearing for the Case

Raeann Warner, Esq. , Jacobs & Crumplar, Wilmington, Delaware; Jennifer L. Lilly, Esq. , The Law Offices of Peter G. Angelos, Baltimore, Maryland; Attorneys for Petitioners.

Jeffrey P. Wasserman, Esq. , Ciconte, Wasserman & Scerba, LLC, Wilmington, Delaware; Daniel A. Brown, Esq. , Eileen M. O'Brien, Esq. , Brown & Gould, LLP, Bethesda, Maryland; Attorneys for Petitioners.

Francis J. Murphy, Esq. , Murphy & Landon, Wilmington, Delaware; Joseph L. Ruby, Esq. , Lewis Baach PLLC, Washington, D.C.; Attorneys for Krafft-Murphy Company, Inc., a dissolved Delaware Corporation.

OPINION

PARSONS, Vice Chancellor.

This matter is before me on opposing motions for summary judgment and judgment on the pleadings related to a petition for the appointment of a receiver for a dissolved Delaware corporation. The respondent is a former corporation that was involved for decades in the business of plastering and spray insulating. Due to the nature of its business, the respondent has been subject to hundreds...

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