What are the arguments that the transactions between Sinclair and Sinven should be subjected to judicial scrutiny and upheld only if Sinclair shows them to have been entirely fair and entered in good faith?
ASSIGNMENT Sinclair Oil Corporation organized a subsidiary, Sinclair Venezuelan Oil Company (Sinven), for the purpose of operating in Venezuela. Sinclair owned about 97 percent of Sinven’s stock. Sinclair nominates all members of Sinven’s board of directors, and none of the directors were independent of Sinclair. A minority shareholder of Sinven brought a derivative action on […]