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issue as to any material fact. Accordingly, we may render
judgment on the issue in this case as a matter of law. See Rule
121(b).
Background
Some of the facts and certain exhibits have been stipulated
by the parties for purposes of the instant motion. The
stipulation of facts is incorporated in this Opinion by
reference. When petitioner filed its petition in the instant
case, its principal place of business was located in Lisle,
Illinois.
As a result of a May 29, 1986, restructuring transaction
(restructuring transaction), petitioner became the successor
common parent of a consolidated group of corporations that had
previously been headed by Interlake, Inc. References to the
group are to the group of consolidated corporations controlled by
Interlake, Inc., before the restructuring transaction and then by
petitioner after the restructuring transaction.
The Restructuring
Prior to the restructuring transaction, Interlake, Inc., was
the common parent of the group. The group consisted of various
subsidiaries, including the Alabama Metalurgical Corp. (AMC).
Interlake, Inc., was a publicly owned corporation, and its shares
of common stock were listed and traded on the New York Stock
Exchange (NYSE).
Petitioner was organized on February 26, 1986, in
anticipation of the planned restructuring transaction. From its
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