Preview:

EFiled: Aug 20 2008 1:53PM EDT Transaction ID 21151230 Case No. 1317-VCN

COURT OF CHANCERY OF THE STATE OF DELAWARE
JOHN W. NOBLE VICE CHANCELLOR 417 SOUTH STATE STREET DOVER, DELAWARE 19901 TELEPHONE: (302) 739-4397 FACSIMILE: (302) 739-6179

August 20, 2008

James S. Green, Esquire Seitz, Van Ogtrop & Green, P.A. 222 Delaware Avenue, Suite 1500 P.O. Box 68 Wilmington, DE 19899-0068 Re: Tunney v. Hilliard, et al. C.A. No. 1317-VCN Date Submitted: May 29, 2008

Gregory A. Morris, Esquire Liguori, Morris & Yiengst 46 The Green Dover, DE 19901

Dear Counsel: For nearly a decade, Plaintiff Patrick B. Tunney ("Tunney") and Defendant Eugene Hilliard ("Hilliard") owned and operated Up the Creek Restaurant and Marina in Wilmington, Delaware ("UTC"). In furtherance of that venture, they formed two Delaware entities: an operating entity, Defendant Up the Creek, Inc. (the "Corporation"),1 and a real estate holding entity, Defendant Up the Creek,

1

Tunney and Hilliard are the only stockholders of the Corporation. Each owns 50% of the stock. Transcript of Trial, May 19, 2008 ("Tr.") at 5, 32-33; see also Pretrial Order at

Download 110480.pdf

Delaware Law