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IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE

LEWES INVESTMENT COMPANY,  )  
L.L.C.,  )  
)  
Plaintiff,  )  
)  
v.  )  Civil Action No. 2893-VCG  
)  
THE ESTATE OF FRANCES B.  )  
GRAVES, THE FRANCES B. GRAVES  )  
REVOCABLE TRUST DATED JUNE  )  
14, 2002, WILLIAM D. GRAVES, ANN  )  
BAR STUBBS, MAHLON H. GRAVES  )  
and DEAN M. GRAVES,  )  
)  
Defendants.  )  

MEMORANDUM OPINION
Date Submitted: December 17, 2012 Date Decided: February 12, 2013
William E. Manning, James D. Taylor, Jr., and Jennifer M. Becnel-Guzzo, SAUL EWING LLP, of Wilmington, Delaware, Attorneys for Plaintiff.
Craig A. Karsnitz, YOUNG CONAWAY STARGATT & TAYLOR of Georgetown, Delaware, Attorney for Defendants.
GLASSCOCK, Vice Chancellor

This matter involves a failed attempt to develop a farm between Belltown

and Cool Spring, in eastern Sussex County. The farm (the

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