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1
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ANSWER TO FIRST AMENDED COMPLAINT
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EXTRACTED KEY WORDS
WINCUP HOLDINGS BENCHMARK HOLDINGS JAMES RIVER ALLEGATIONS COMPLAINT RADNOR PARTIES ADMIT BENCHMARK CORPORATION JAMES RIVER PAPER WINCUP PARTNERSHIP DEFENDANTS COURT PARAGRAPH KENNEDY PLAINTIFFS ASSETS FIRST AMENDED COMPLAINT FORT JAMES RESPECTFULLY REFER FORT JAMES OPERATING AFFIRMATIVELY AVER INFORMATION SUFFICIENT WINKLER/FLEXIBLE PRODUCTS PARTIES LACK KNOWLEDGE RADNOR PARTIES LACK THERMOFORM LIMITED PARTNERSHIP PLASTIC CUTLERY SUBPARAGRAPH F/K/A BENCHMARK CORPORATION |
IN THE COURT OF CHANCERY FOR THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
JACKSON NATIONAL LIFE
INSURANCE COMPANY and
BENCHMARK HOLDINGS, INC.,
Plaintiffs,
V . Civil Action No. 16472NC
MICHAEL T. KENNEDY, RADNOR
HOLDINGS CORPORATION, successor to
Benchmark Corporation of Delaware,
WINCUP HOLDINGS, INC., WINCUP
HOLDINGS, L.P., FORT JAMES
CORPORATION, successor to James River
Corporation of Virginia, and
FORT JAMES OPERATING COMPANY,
INC., successor to James River Paper
Company, Inc.,
Defendants.
ANSWER TO FIRST AMENDED COMPLAINT
Defendants, Michael T. Kennedy ("Kennedy"), Radnor Holdings
Corporation, f/k/a Benchmark Corporation of Delaware: ("Radnor" or "Benchmark
Corporation"), WinCup Holdings, Inc. ("WinCup Holdings"), and WinCup Hold-
ings, L.P. (the "WinCup Partnership," and collectively, the "Radnor Parties"), by
their attorneys, Skadden, Arps, Slate, Meagher & Flom., LLP, respond as follows to
the allegations of the First Amended Complaint (the "Complaint"):
1. Denied.
2. Denied, except the Radnor Parties admit that Plaintiffs purport
to bring this action against Kennedy, Radnor, WinCup Holdings, WinCup Partner-
ship, Fort James Corporation ("Fort James"), and Fort James Operating Company,
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2
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MEMORANDUM OPINION
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EXTRACTED KEY WORDS
JAMES KENNEDY STOCKHOLDERS WINCUP HOLDINGS PLAINTIFFS PREFERRED STOCKHOLDERS FORT JAMES FIDUCIARY DUTY DELAWARE DEFENDANTS TRANSACTION LOYALTY DIRECTORS ASSETS SOLE DISCLOSURE CERTIFICATE FIDUCIARY DUTIES WINCUP PARTNERSHIP COMPLAINT ALLEGES VOTING EVENT PREFERRED STOCK COMMUNICATIONS PARTICIPATION OBLIGATION UNJUST ENRICHMENT JAMES RIVER WILMINGTON ALLEGATIONS |
IN THE COURT OF CHANCERY FOR THE STATE OF DELAWARE " '
IN AND FOR NEW CASTLE COUNTY
JACKSON NATIONAL LIFE >
INSURANCE COMPANY and >
BENCHMARK HOLDINGS, INC., )
Plaintiffs,
V. ) C.A. N-o. 16472
MICHAEL T. KENNEDY, RADNOR)
HOLDINGS CORPORATION, >
successor to Benchmark Corporation )
of Delaware, WINCUP HOLDINGS, )
INC., WINCUP HOLDINGS, L.P., )
FORT JAMES CORPORATION, )
successor to James River Corporation )
of Virginia, and FORT JAMES >
OPERATING COMPANY, INC., )
successor to James River Paper >
Company, Inc., >
Defendants. >
Submitted: February 26, 1999
Decided: July 15, 1999
MEMUR4NDUM OPINION
Jay W. Eisenhofer and Cynthia A. Calder of Grant & Eisenhofer, Wilmington, Delaware. OF
COUNSEL: William I. Goldberg, J. Michael Williams, and Judith M. Hudson of Holleb & Coff,
Chicago, Illinois. Attorneys for Plaintiffs.
P. Clarkson Collins, Jr. and Joseph C. Schoell of Morris, James, Hitchens & Williams,
Wilmington, Delaware. OF COUNSEL: James H. Walsh and H. Carter Redd of McGuire,
Woods, Battle & Boothe, Richmond, Virginia. Attorneys for Defendants.
STEELE, V.C.
I. ISSUES PRESENTED
Benchmark Holdings Inc. ("Benchmark Holdings") and Jackson National
Life Insurance Co. ("Jackson National"), a preferred stockholder of Benchmark
Holdings, brought an action against the former president and sole director of
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3
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OPENING BRIEF OF FORT JAMES CORP AND FORT JAMES OPERATING CO. IN SUPPORT OF MOTION TO DISMISS
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EXTRACTED KEY WORDS
JAMES CHANDLER SUPR FORT JAMES LITIGATION PARTNERS STEELE VIRGINIA OPERATING TRUST RICHMOND AUTHORITIES NATURE PROCEEDING INTRODUCTORY STATEMENT FACTS CONSTRUCTIVE TRUST FAIL BERNSTEIN CANET BOUSH HODGES AFFD BROOK ACME STEEL DODGE WILMINGTON TRUST GALE BERSHAD |
IN THE COURT OF CHANCERY OF THE STATE. OF DELAWARE
IN AND FORNEW CASTLE COUNTY
JACKSON NATIONAL LIFE >
INSURANCE COMPANY and >
BENCHMARK HOLDINGS, INC., >>
Plaintiffs, >
V. Civil Action No. 16472-NC -
.
1
MICHAEL T. KENNEDY, >
RADNOR HOLDINGS CORPORATION, )
successor to Benchmark Corporation of ) _
Delaware, WINCUP HOLDINGS, INC., )
WINCUP HOLDINGS, L.P., > .-
FORT JAMES CORPORATION, > .
I.
successor to James River Corporation of )
Virginia, and FORT JAMES OPERATING )
COMPANY, INC., successor to James )
River Paper Company, Inc.,
;
Defendants. )
OPENING BRIEF OF FORT JAMES CORPORATION AND FORT JAMES
OPERATING COMPANY, INC. IN SUPPORT OF THEIR MOTION TO
DISMISS PURSUANT TO RULE 12(b)(6)
MORRIS, JAMES, HITCHENS & WILLIAMS
P. Clarkson Collins, Jr.
Joseph C. Schoell
222 Delaware Avenue
Wilmington, DE 1980 1
(302) 888-6800
Attorneys for Defendants Fort James Corporation
and Fort James Operating Co., Inc.
OF COUNSEL:
McGUIRE, WOODS, BATTLE & BOOTHE LLP
James H. Walsh
H. Carter Redd
One James Center, 901 East Car-y Street
Richmond, Virginia 232 19
(804) 775-1000
August 3 1, 1998
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