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Corporations Keyed to Rhee
In re USACafes, L.P. Litigation
Citation:600 A.2d 43 (Del. Ch. 1991)
The Partnership was formed in the 1986 reorganization of the business of USACafes, Inc. Also formed as part of that reorganization was USACafes General Partner, Inc. Both the Partnership and the General Partner are named as defendants in this action. Plaintiffs claim that the sale of the Partnership’s assets was at a low price, favorable to Metsa, because the directors of the General Partner all received substantial side payments that induced them to authorize the sale of the Partnership assets for less than the price that a fair process would have yielded. The complaint also asserts that the General Partner was not sufficiently informed to make a valid business judgment on the sale.
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