Sinclair Oil Corp. v. Levien
Citation
280 A.2d 717 (Del. 1971)
Facts
Stub — to be completed.
Issue
Stub — to be completed.
Holding
Stub — to be completed.
Rule
Transactions between a parent and its subsidiary are subject to the intrinsic fairness standard only when the parent receives a benefit at the expense of the subsidiary’s minority shareholders; otherwise the business judgment rule applies.
Significance
Defined when parent-subsidiary transactions trigger entire fairness review vs. business judgment rule; key case for controlling shareholder duty of loyalty.