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HomeMy WebLinkAbout03-15-13:. F~.\FR.ES\Clienta\5844 Mumma Enate\5844.19 Accounts and Dia[tibution Truna\5644.19 DLn5844.19.Responae to Petition to Compel Compliance dated 1.28.13.Final.2.wpd No V. Otto III, Esquire c~ ~ ~ I.D. No. 27763 ~ o ``' m ~ " George B. Faller, Jr., Esquire m ~ ~ ~- , ~° I.D. No. 49813 ~ n ~ p.-a ~ ~ Jennifer L. Speazs, Esquire n' can ~ `J' ~ ~ I.D. No.87445 0 ~ ~ ~ ° ^~ MARTSON LAW OFFICES ~ ~ _ ~ 10 East High Street ~ ~ m Cazlisle, PA 17013 a ~> ~ ~ (717) 243-3341 c~ _ n Attorneys for Lisa M. Morgan IN THE COURT OF COMMON PLEAS OF IN RE: :CUMBERLAND COUNTY, PENNSYLVANIA Estate of Robert M. Mumma, N0.21-86-398 Deceased. ORPHANS' COURT DIVISION RESPONSE OF LISA M. MORGAN AS EXECUTRIX AND TRUSTEE OF THE ESTATE OF ROBERT M. MUMMA TO PETITION TO COMPEL COMPLIANCE WITH COURT'S ORDER DATED JULY 30 2012 AND FOR SANCTIONS AND ALTERNATIVELY. TO VACATE SAID ORDER AND NOW, comes Lisa M. Morgan, Executrix of the Estate of Robert M. Mumma and Trustee of the Marital and Residuary Trusts under such Will, who responds to Robert M. Mumma, II's Petition to Compel Compliance with Court's Order Dated July 30, 2012, and for Sanctions and Alternatively, to Vacate Said Order, as follows: 1-4 Admitted. Further, in respect of pazagraph 2 a., as set forth in the Order of the Court dated July 30, 2012, Mrs. Morgan was ordered to cause both D-E and the Residuary Trust to provide certain information and, in the absence of certain objections, proceed with liquidation and distribution. No such objections were made and Mrs. Morgan complied with such Order. 5-6 After reasonable investigation, Mrs. Morgan is without knowledge or information sufficient to form a belief as to the truth or falsity of this averment. 7. Mrs. Morgan is without knowledge or information sufficient to form a belief as to the truth or falsity of this pazagraph, and its subparts, with regazding to what, if any, "investigation" Petitioner has undertaken or what the results of such effort have been. By way of further response, Mrs. Morgan responds as follows to the vazious subpazagraphs: ~^'3 7. a. Mrs. Morgan is without knowledge or information sufficient to form a belief as to the truth or falsity of this paragraph as it relates to the original issuance of the insurance policies in question. By way of further response, the insurance policies in question became owned by DE Distribution Corp. by virtue of the corporate division of Nine Ninety-Nine, Inc. in July 1993. Mrs. Morgan denies that Petitioner is a shareholder of "Pennsy Supply Inc." Indeed, that allegation is inconsistent with the conclusion in prior litigation involving Petitioner, as Petitioner executed a written, irrevocable consent and joinder in the corporate division of Nine Ninety-Nine, Inc. The allegations of this paragraph are flatly inconsistent with multiple prior rulings of the Court in various litigations. See Exhibit "A" hereto attached. 7. b. Mrs. Morgan is without knowledge or information sufficient to form a belief as to the truth or falsity of this paragraph as it relates to the original issuance of the insurance policies in question. In any event, such allegations aze irrelevant. 7. c. Mrs. Morgan is without knowledge or information sufficient to form a belief as to the truth or falsity of this pazagraph as it relates to the original issuance of the insurance policies in question. Moreover, Mrs. Morgan denies that there currently exist any binding or effective "agreements with Pennsy Supply" regazding the policies. In any event, such allegations aze irrelevant. Mrs. Morgan further denies any chazacterizations of the terms or provisions of the insurance policies, which are in writing and speak for themselves. In addition, as set forth in the Order of the Court dated July 30, 2012, Mrs. Morgan was ordered to cause both D-E and the Residuary Trust to provide certain information and, in the absence of certain objections, proceed with liquidation and distribution, with which Order Mrs. Morgan complied. 7. d. The insurance policies and ancillary documents are writings and speak for themselves. 7. e. Denied. On the contrary, Petitioner executed a written, irrevocable consent and joinder in the corporate division of Nine Ninety-Nine, Inc. The allegations of this paragraph are flatly inconsistent with multiple prior rulings of the Court in various litigations. See Exhibit "A" hereto attached. See also Mrs. Morgan's answer to subpazagraph a. 7. f. After reasonable investigation, Mrs. Morgan is without knowledge or information sufficient to form a belief as to the truth or falsity of this averment. However, the record reflects that the Report and Recommendation of the Auditor and the Order of the Court were mailed to Petitioner's counsel, Jeffrey G. Brooks, Esquire. 7. g. After reasonable investigation, Mrs. Morgan is without knowledge or information sufficient to form a belief as to the truth or falsity of this averment insofar as it relates to Petitioner's knowledge. However, Petitioner's counsel, Jeffrey G. Brooks, Esquire, participated in the proceedings before the Auditor and the agreement therein reached. 7. h. Denied that Attorney Brooks so advised. Admitted as to the request for additional information. Such information was provided to Attorney Brooks on August 2, 2012. 7. i. The Auditor's Report and Recommendation and the transcript of the July 26, 2012, proceedings are in writing and speak for themselves, and all characterizations of them are denied. Mrs. Morgan admits that requests were made for information, and that her counsel understood that such a request had been made. To the extent this paragraph alleges something more, those allegations are denied. In particular, Mrs. Morgan denies any allegation that Petitioner was unfamiliar with the existence of the insurance policies in question. 7. j. The Auditor's Report and Recommendation and the transcript of the July 26, 2012, proceedings are in writing and speak for themselves, and all characterizations of them are denied. Moreover, Mrs. Morgan is without knowledge or information sufficient to form a belief as to the truth or falsity of this paragraph as it relates to any purported "need" for information. 7. k. The averments of this paragraph are a legal conclusion to which no response is required. 8. Denied. 9. Admitted. 10. Denied. 11. Denied that Mrs. Morgan failed to provide such information. To the contrary, such information was provided to counsel for Petitioner and counsel for Barbara Mumma. 12. Denied. To the contrary, Mrs. Morgan provided such information, and despite repeated requests for a response made to Petitioner's counsel, no such response was forthcoming. 13. No response required. 14. No response required. 15. The averments of this paragraph are a legal conclusion to which no response is required. WHEREFORE, Lisa M. Morgan, Executrix of the Estate of Robert M. Mumma and Trustee of the Marital and Residuary Trusts under such Will, respectfully requests Your Honorable Court to dismiss Robert M. Mumma, II's Petition to Compel Compliance with Court's Order Dated July 30, 2012 and for Sanctions and Alternatively, to Vacate Said Order. Respectfully submitted, MA TSON LA OFFICES By: No V. Otto III, Esquire George B. Faller, Jr., Esquire Jennifer L. Spears, Esquire 10 East High Street Carlisle, PA 17013 (717)243-3341 Brady L. Green, Esquire WILBRAHAM LAWLER & BUBA 1818 Market Street, 31st Floor Philadelphia, PA 19103 (215) 972-2860 Attorneys for Lisa M. Morgan Date: March 15, 2013 ROBERT M. MUMMA, II, AV THE COURT OF COMMON PLEAS OF Plaintiff' CUMBERLAND COUNTY, PENNSYLVANIA v. CIViL ACTION -EQUI'T'Y PENNSY SUPPLY, iNG., Defendant N0.99-2765 EQUITY TERM IN RE: ADJUIIICATION BEFORE OLER. J. D>G~CREE NISI AND NOW, this 17`'' dad' of May, 2002, upon consideration of .Plaintiffs complaint for declaratory judgment in the abavc-captioned case, and following a nonjury trial, it is ordered, adjudged, decreed and declared that Plaintiff does not retain an ownership interest in a corporation Mown as Pennsy Supply Inc., or any derivation thereof, and that the transfers of shares in Pennsy Supply Inc.., or any derivation thereof, at issue in this action were not soided by operation of the shareholders' agreement executed in I96I. THIS DECREE NISI shall automatically become a final decree, without further order of court, if no party in interest files a timely motion for post-trial relief in accordance with Pennsylvania Rulc of Civil Procedure 227.1. BY THE COURT, ~r . 'Jcsley Olcr, ., Rabat M. Mumma, Ti Box E . Bo~vmansdale,l'A 17008 Plaintiff, Pro Sc • EXHIBIT ~d ' ' in jQ3t7^..~~j~VtliCr:U:i, 1 ~14'l4.tf~:iG'~:i n1j f4's:f7 ana the r.~ri ct ::.::d f'=~s;r~ at G_:L•so, ~. rr:~s_.L_da o;.11~._._, ~:~. ~~ i : li%HIBIT "A° - t ROBERT M. MUMMA, II, IN THE COURT OF COMMON PLEAS OF Plaintiff CUMBERLAND COUNTY, PENNSYLVANIA v. CIVIL ACTION - EQUi'I`Y PENNSY SUPPLY, INC., Defendant N0.99-2765 EQUITY TERM IN RE: ADJUDICATION BEFORE OLER. J. OPINION and DECREE NISI OLER, J., May 17, 2002. In this equity action, Plaintiff Robert M. Mumma, II, claims an ownership interest in a corporation known as Pennsy Supply Inc. (with no comma), which, according to Plaintiff, has survived for over fifty years as an entity separate and distinct from Pennsy Supply, Inc. (with a comma). Plaintiff argues that, although he sold his interests in the latter, he retained an ownership interest in the former, as evidenced by a share certificate, dating to 1963, which facially represented 314 shares of stock in "Pennsy Supply Inc." (with no comma). Thus, essentially, Plaintiffs claims are predicated on the legal significance of a comma or lack thereof. The ownership interest claimed byPlaintiff represents shares in a corporation that was built up by Plaintiffs father, Robert M. Mumma, whose death in 198G initiated a "long line" of seemingly "unending litigation"'' involving Plaintiff, other members of the Mumma family, and various corporations involved in subsequent transactions involving the "Pennsy Supply Businesses."~ The latest in this series of cases involve the sate of the ~ Hereinafter, all references to "Penrssy Supply, Inc:'should be construed as references to Pennsy Supply, Inc. (-vith a comma), and all references to "Pennsy Supply Inc." should be construed as references to Pennsy Supply Inc, (with no comma). a In re Estatr of Mumma, Orphans' Ct. No. 21-86-398, slip op. at 1 {Ct. Com. Pl. Cumberland Nov. 5, 1992). ~ Sec, e.g., Mumma v. CRN, Lrc., 99.154G Civil Term (Ct. Com. Pl. Cumberland 1999); Mumma v. G-~-T Disfrrbution Corp., 94-0423 Civil Term (Ct. Com. Pl. Cumberland 1994); Mumma a A'ine Ninety-Nine, Inc., 14 Equity 1990 {Ct. Com. Pl. Cumberland r l; "Pennsy Supply Businesses" to another ciltporation, CIt!-I plc. Plaintiff consented to this sale and released Itis o~~•nership interest in the "Pennsy Supply Businesses" for consideration of approximately S3 million:' Soon after executing this release, PlainlifF initiated lawsuits against various corporations involved in the transaction, including G-A- TDistribution Corporations and CIZH p!c e On May 7, 1999, Plaintiff filed this declaratory judgment action against another such corporation, Defendant Pennsy Supply, Inc. 1n this action, Plaintiff regt:ested that the court declare that he "is a lawful on•ncr of 314 shares of stock in Pennsy Supply Inc."' Plaintiff also rerluested a declaration that previous transfers of shares in Pennsy Supply Inc., including Plaintiffs shares, were void under the terms of an agreement executed by the shareholders of Pennsy Supply Inc. in .1961 and that, pursuant to that agreement, Plaintiff has the option to purchase a significant ownership interest in that corporation at book value.$ As with Plaintiffs prior claims in other cases, resolution of the prescitt claims in Plaintiff's fa~•or trould effectively require the unraveling of the sale of the "Pennsy Supply Business" and «•ould allow Plaintiff to reacquire control of assets i that were transferred to CRH plc by Flaintiff for consideration of $3 million. A nonjury trial was held aver the course of five days. Based upan the evidence in the record, and for the reasons stated in this opinion, the court will find for Defendant. 1990); Mumnra v. Nine Ninety-Nine, hrc., 15 Equity 1990 (Ct. Com. PJ. Cumberland 1990); Monona v. Mrrnvrro, 84 Equity 1990 (Ct. Com. Pl. Cumberland 1990); Mumma v. Mumma, 66 Equity 1988 (Ct. Com. PI. Cumberland 1988); Irr rP Esla~e of Mumnra, Orphans' Ct. No. 21-Sd-398 (Ct. Com. Pl. Cumberland 1986). See infra notes 18-34 and accompanying text. s See Mumnra v. G-A-T Distri6:rlion Corp., 94-0423 Civil Term (Ct. Com. PI. Cumberland 199q). 6 Sec h1umnra v. CRN, Inc., 99-1546 Civil Term {Ct. Com. PI. Cumberland 1999). Pl.'s Action for a Declaratory J., filed May 7, 1999, at 5. See id. 2 i ~~ F'11'I.~NST$ r• rncr '• 1. According to the records of the Conunomvealth .for Nine Ninety-Nine, Ine.,9 on May 3, 1961, a corporation 1:nown as Pennsy Supply, Inc., which had been incorporated on Mnrch 20, 1958, merged .into a corporation Mown as Fiala Cn~shed Stone Corporation, which had been incorporated on November 5, 1958.10 i 2. As a result of the merger, on May 3, 1961, Pennsy Supply, Inc., ceased to exist as the name of a corporation recognized in the records of the Commonwealth.~~ • 3. According to the records of the Cornmomveatth for Nine Ninety-Nine, Inc,, i immediately after the merger, on A•fay 3, 1961, Fiala Crushed Stone Corporation changed its name to Pennsy Supply Inca- ' 4. On December 29, 1961, the two shareholders of Pennsy Supply Inc., Kim Company and Jerry T. Simpson, entered into a shareholders' agreement, which limited the ability of current shareholders to transfer shares without first offering the shares for sale to the eorporation.13 5. Share certificates issued after this agreement bear a restrictive legend, which identified the applicabilit}• of the restrictions imposed by the shareholders' agreement of December 29, 1961.." 6. On August 1, 1963, the two shareholders, Kim Company and Jerry T. Simpson, entered into a termination agreement, which provided, in pertinent part: "(S)aid s Specifically, these records are the articles of incorporation and amendments for Nine Ninety-Nine, Inc, filed with the Commomvealth of Pennsylvania Department of State. ' See Def,'s Ex. 48, Trial, Dte. '13-IS, 2000, May 30-31, 2001 {hereinafter Pl.'s / I)cf.'s Ex. ___). to Def.'s Ex. 48, 49. ~ ~ Id ~ r Id. 's P}.'s Ex. S. "E.g., Pl.'s E~:. 3. 3 parties hereto agree that said shareholder's Agreement of December 29, 1961 behveen Kim [Company] and [.Icrry T.] Simpson is hereby cancelled, annulled and terminated."is ~ 7. 'fhc termination agreement Curtner provided that "upon transfer of all of the shares of stock of [Deny T.J Simpson to [Robert M.J Mumma, [Plaintiff's father,] all rights, obligations and conditions of said Agreement shall cease"16 8. On August 1, 1963, Terry T. Simpson transferred a total of 1,250 shares in Pennsy Supply Inc. to Robert M. Mumma." 9. On August 5, 1963, Robert M. Mumma transferred 3l4 shares in Pennsy Supply Inc. to Plaintiff and Plaintiff was issued a share certificate representing those ~ I shares.'s ~ 10. Plaintiff's share certificate does not bear the restrictive legend that appeared ~ on share certificates issued prior to August 1, 1963, and after the execution of the shareholders' agreement.19 I 11. According to the records of the Commomveatth for Nine Ninety-Nine, Inc., on May 31, 1979, a corporation Mown as Tri-Ms. Inc. merged into Pennsy Supply Inc 20 12. According to the records of the Commonwealth for Nine Ninety-Nine, Inc., on August 3!, 1981, a corporation knotivn as Four Farty One Corporation merged into Pennsy Supply, Inc?' } i 13. Although the merger of May 3I, 1979, refers to Pennsy Supply Inc., and the merger of August 31, 1981, refers o Pennsy Supply, inc., both mergers involved the Is Def.'s lrx. 8. .6 fa. t~ Pl.'s Ex. 5. is pl.'s Ex. I. The shares were actually iransfened to Robert M. Mumma as custodian for Plaintiff, who was a minor at the time of the initial transfer. Plaintiff came into possession ofthe shares in 1971. N.T. 34-38, 114, 150, Trial, Dcc. 13-15, 2000, May 30- 31, 2001 (hereinafter N.T. ,~; sec also Pl.'s I/x. 1. 1 ° See Pl.'s Ex. 1. zo Def.'s £x. 4 $. 21 IG. a same corporation, the corporation which had been originally known as Fiala Crushed Stone Corporation and which had been incorporated an November 5, 1958. 14. Thereafter, although the records of the Commontveihh for Ninc Ninety- Nine, Inc., refer solely to Pennsy Supply, htc., those references are to the same corporation previously identified as Pennsy Supply Inc., the corporation which had been originally known as Fiala Crushed Stone Corporation and which had been incorporated on November 5, 1958.x'' S. On October 9, 1981, Ten-O-One, Inc., was incorporated as a wholly-owned subsidiary of Pennsy Supply, Inc z3 I G. According to the records of the Gomntomvealth for Ninc Ninety-Ninc, Inc., on January 4, 1982, Pennsy Supply, Inc., changed its name to Nine Ninety-Nine, Inez{ 17. On January 4, 1982, alt outstanding share certificates bearing the Warne Pennsy Supply, Inc., or any derivation thereof, were replaced with new share certificates bearing the name Nine Ninety-Nine, lnc?s 18. Plaintiff was issued a now share certificate bearing the name Nine Ninety- Nine, Inc., to replace his share certificate bearing the name Pennsy Supply, lne,26 19. Plaintiff retained possession of the share certificate,. which bore the Warne Pennsy Supply Inc. and which had represented 31.4 shares in Pennsy Supply, Inc?' 20. On January 4, 1982, Ten-O-One, Inc., awholly-otivned subsidiary ofNine- Ninety-Nine, Inc., changed its name to Pennsy Supply, Inc.zB 21. Pennsy Supply, Inc., formerly known as Ten-0-One, lnc., continued to operate as awholly-owned subsidiary corporation of Nine Ninety-Nine, Inc.29 n See Def.'s Ex. 48; N.T. 17I-75. 23 Def.'s Ex. 50; see also, e.g., N.T. S I b. z' Def.'s Ex. 48. zs Sec N.T. 476-?8; see also Dcf's Ex. 15-C. zs Def.'s Ex. I S-C, 1 ~, 26; see also N.T. I60, 31 b-1?. z' Sec Pl.'s Ex. 1. zs Def.'s Ex. 50. _ ~. , 22. In July 1993, pursuant to a majority vote of shareholders, all shares of Nine i Ninety-Nine, Inc., along with other corporate assets denominated collectively as the "Pennsy Supply Businesses," ware sold to another corporation, CRH p1c.30 j i. 23. On March 17, 1995, Plaintiff. joined the sale of the "Pennsy Supply Businesses" through the execution of an "irrevocable" consent and joinder.31 24. On March 17, 1995, Plaintiff sold his outstanding sltares in Nine Ninety- I Nine, Tnc., to CRH plc and received approximately $3 million in proceeds from the sale.3` I i 25. On March 17, 1995, Plaintiff transferred the shares and surrendered the ~ share certificate representing his shares in Nine Ninety-Nine, ]nc is 26. As of March t7, 1995, Plaintiff retained na ownership interest in Nine Ninety-Nine, Inc 3a DiSCUSSiON Declaratory Jadgnrents. Declaratory judgments are available for parties "to obtain a declaration of the existing legal rights, duties, or status of the parties tivhere the declaration will aid in the determination of a genuine, justiciable controversy:' Redevelopment .4utlr. a Int'! Lrs. Co., 454 Pa. Super. 374, 383, 685 A.2d 581, 585 (1996). Generally, the party asserting ownership of property currently possessed and operated by another bears the burden of establishing his or her Icgal right to that property, particularly when documentary evidence exists to support the possessor's right to ownership. See In re Estate of f~?einer, 405 Pa. 540, 543, 176 A.2d 4I0, 412 (1962); see also Montgo»rery v. Keystone Sav. d Loan Assn, 150 Pa. Super. 577, 581, 29 A.2d 203, 205 (1942). . zv Def.'s Ex. 50; see also, e.g., N.T. 516. ;° See Def.'s Ex. 17, 18, 47. ~t Def.'s Ex. 7; see also N.T. 161, 171-75, 254, 26i; Def.'s Ex. 47. 12 Sec N.T. 159.1? 1-"15; see also Dcf.'s Ex. 47. 31 See N.T. ] 59, 171-75; Def.'s Ex. 26. 3a Def.'s Ex. 7; see also N.T. 161, 171-75, 254, 261; Def.'s Ex. 47. 6 ' ., '. i ,. . ,:. .: i Ownership Interest itr PetrrrsySrrpply Lrc. The court is of the opinion that Plaintiff has failed to offer persuasive evidence to support his claim of an ownership interest, represented by the share certificate bearing the name Pennsy Supply Inc. Instead, the evidence presented in this case established that Plaintiff, through the execution of the consent and joinder agreement in 1995, sold the ownership interest that had been represented by the share certificate. Possession of a share certificate is not dispositive evidence of an ownership t interest in the corporation named on the certificate, but functions only as supporting evidence that the possessor. has a valid ownership claim. See Act of Dec. 21, 198$, P.L. 1444, Na. 177, § 103, as arrrettded, 15 Pa. C.S.A. ~ 1103 (Nest 1998 & Supp. 2001) ~ (defining a "share certificate" as "[a~ written instrument signed on behalf of the corporation evidencing the Fact that the person therein named is the record owner of the shares therein described"); see also IS Pa. C.S.A. § f52$(a} (stating that shares of a ~ business arc `'represented" by share certificates). In other words, a distinction is made 1 behveen the share certificate and the underlying ownership interest, the shares, represented b}• the certificate. When an issuing corporation,35 because of a change in name or similar event, cartcels outstanding share certificates and issues new certificates { under the rew corporate name, the underlying ownership interests represented by al! ~ certificates -- both the cancelled and the new -- do not change and remain in the issuing i. corporation. See I~r re Estate of Rimer, 71 I A.2d 1018, 1023 (Pa. Super. Ct. 1998} I (finding that cancellation of an old certificate and issuance of a new certificate has "no ~ legal effect" on the individuaI's "entitlement to the underlying asset"). The possession of share certificates, or tack thereof, does not affect whether the shareholders retain an ~ i ownership interest in the issuing corporation, even though it now operates under a ' different name 3e ~s The issuing corporation may be defined as the corporation that originally issued the shares and share certificates. 3a It seems an odd cute of law that would allow the possessor of cancelled certificates in a non.-defunct corporation to reap a n•indfall and acquire an ownership interest in a newly- 7 ' . .• Conclusive evidence of an ownership interest can be found only by examining the records pertaining to the structure and development ofthe issuing corporation. Sea 15 Pa. C.S.A. § 1916 (stating that amendments to the articles of incorporation become effective only upon filing with the Commonwealth); see also 1 S Pa. C.S.A. § 1309 (stating the corporate records kept by the Commomvealth serve as "conclusive evidence" 'of the status of that corporation) s7 A corparaGon is required to file with the Commonwealth all information pertaining to corporate charter amendments, mergers and name changes. 15 Pa. C.S.A. § 1911. Because the existence of the corporation is dependent on state recognition, these records sense as `'conclusive proof ` of alterations in corporate structure and identity. 15 Pa. C.S.A. § 1309. Thus, by tracking the changes in the structure of the issuing corporation, as evidenced by the records of the Commonwealth, the current identity of the issuing corporation, in which the ownership interest remains, can be determined. In filing both articles of incorporation and amendments thereto, entities must abide by several statutory filing requirements in order to secure official recognition of the proposed incorporation or amendment. one such requirement limits the ability pf an entity to incorporate under a name that is not "distinguishable" from the name of another corporation already recognized in the records of the Commomvealth. 15 Pa. C.S.A. formed corporation merely because, by happenstance, the new corporation chose to use the same name as the old corporation.. 37 Even if the court may in same circumstances infer the existence of a de facto corporation from testimonial evidence of the assumption of corporate identity, but see Act of Dcc. 21, 1988, P.L. 1414, No. 177, § 103, 15 Pa, C.S.A. § 1904 (Vilest 1998 & Supp: 2001) ("The doctrine of de facto mergers, consolidations, and other fundamental transactions is abolished ...."), Plaintiff has not presented facts to support such a claim. Here, Plaintiff presented, as alleged corporate officers of a second "Pennsy Supply" corporation, two individuals, who were both aver eighty years of age. These individuals could not testify clearly to the existence of two "Pennsy Supply" corporations but could only, in response to Plaintiff's leading questions, agree that twa such corporations may have existed at some time. As such, in the court's vices, no credible evidence tvas presented of any "2ttempt to organize'" or an "assumption and exercise of rorporate power," to support Plaintiff's claim of a de facto corporation. Sec hr re Riviera Country Ciuh, 1961'a..Supcr. 636, G40-41, 17G A.2d 704, 707 (1961). 0 - ,• § 1303(b). Section 135 of Title 15 establishes the requirements far a "distinguishable" name and provides, in pertinent part, as follows: (e) Distinguishable names: -A name shall not be considered distinguishable ... from another name for purposes of this title ... salety because the names differ from each other in any or ail of the following respects: (1) Use ofpunctuation marks. 15 Pa. C.S.A. § 135(e). Thus, it is the policy of the Commonweallh not to recognize proposed articles of incorporation or amendments that would result in two corporations with duplicate names.3S Based on the records of the Commomvealth presented in this case, as of 1982, the identity of the issuing corporation, in which Plaintiff held an ownership interest, was Nine Ninety-Nine, Inc. According to these records, Nine Ninety-Nine, Inc., had been incorporated in 1.958 under the name Fiala Crushed Stone Corporation. Soon thereafter, it changed its name to Pennsy Supply Inc., the name under which it issued PIaintiff s share certificate and shares. In L9$2, this corporation (i.e., the issuing corporation) changed its name to Nine Ninety-Nine, Inc. Although the name of the corporation changed, its basic structure and identity did not, and Plaintiff's ownership interest remained in that corporation, now knatvn as Nine Ninety-Nine, Inc s9 3a Although the current version of the statutory restriction on duplicate names was passed in 1958, similar statutes in effect during ail periods in question also limited the ability of corporations to use a name that was not "distinguishable" from corporate names in the records of the Commomvealth. See 15 Pa. C.S.A. § 1303 notes. 39 This conclusion is supported by the fact that, at the time of the name change, Plaintiff received a new share certificate representing new shares in Nine Ninety-Nine, Inc. It seems incredible to posit that Nitre Ninety-Nine, Inc., ticould simply issue shares of corporate stork to Plaintiff ~~•ithout a demand for compensation. Raiher, it seems more likely that the new share certificate was a replacement for PlaintilTs now-cancelled certificate, which bore the name Pennsy Supply Inc., a name no longer used by the issuing corporation. Cf. Rider, 7L! A.2d at 1023 (finding that cancellation of an old certificate and issuance of a new certificate has "no Iegat effect" on the individual's "entitlement to the underlying asset"). 9 r .; .; ,. With respect to the identity of the issuing corporation, the fact that the records of ttte Commonwealth inrxplieably insert a comma into the name Pcnnsy Supply Inc, ! between 1979 and i 98l is immaterial to the analysis for ttvo reasons. First, the insertion occurred wholty within the corporate records for Nine Ninety-Nine, inc., a single corporation, and the records contain no suggestion to rebut the inference that these two ~' names refer to the same corporation, the ono that later changed its name to Nine Ninety- f i Nine, Inc. Second, under statutory filing restrictions, corporate names that differ only in terms of punctuation are not "distinguishahte" far purposes of determining corporate j identity. Thus, the insertion or deletion of a comma would not effect au officially recagni2ed change in either the corporate name or identity. The basic premise of Plaintiffs argument, that two "Pcnnsy Supply" corporations, differing only by a comma, existed at tltc same time, is untenable in tight of this statute. According to the records of the Commomvcatth, which serve as "conclusive evidence" of incorporation and corporate identity, as of 1995, the identity of the issuing corporalian of Plaintiffs shares was Nine Ninety Nine, Inc. Although Plaintiff retained his share certificate boating the name Pcnnsy Supply Inc., his o~vnershig interest remained in the issuing corporation, Nine Ninety-Nine, inc. When Plaintiff sold his shares in that corporation to CRH plc in 1995, he sold the ownership interest that had been represented by the share certiftcate bearing the name Pcnnsy Supply Inc. Thus, Plaintiffs contention that his share certificate represents an existing and valid. ownership interest in a corporation knotivnas Pcnnsy Supply Inc. must fail. Ejfect of'rhe 1961 Slrare/TOlders' Agreement. With respect to Plaintiffs claims that the shareholders' agreement of 1961 voided atl transfers of his 314 shares of stock, the court is of the opinion that the termination agreement of 1963 negated any such potential effect on subsequent transfers. Cf. iS Pa. C.S.A. § 1529 (stating that shareholders may alter transfer restactions by agreement). Because Plaintiffs shares were issued after the execution of the termination agreement, and because the share certificate itself does not indicate that the limitations imposed by the shareholders' 10 ,, agreement apply, that agreement had no cfTect on subsequent transfers of PIaintilis shares. CONCLUSInNS OF LAW 1) The court has jurisdiction over the parties and of the subject matter involved in this litigation. 2) Plaintiffs share certificate, bearing the name Pennsy Supply Inc., does not ' represent an ownership interest in any corporation in the Commonwealth. • 3) Plaintiff s share certificate, bearing the name of Pennsy Supply Inc., does not entitle Plaintiff to exercise any shareholders' rights with respect to any corparatian in i the Commomvealth. 4) The shareholders' agreement, executed b}• shareholders in Pennsy Supply Inc, in 1961 and terminated by the same shareholders in 19G3, did not operate to void the August I, 1963, transfer of shares in .Pennsy Supply Inc, by Jerry T. Simpson to Robert f 1. M. Mumma; the August 5, 1963, transfer of shares in Pennsy Supply Inc. by Robert M. ' Mumma to Plaintiff; or the March 17, 1995, sale of those shaves by Piainti ff to CRH plc, S) Plaintiff is nat entitled to the exercise of any shareholders' rights with ~ respect to the option to purchase shares in a corporation krtoivn as Pennsy Supply 1nc., or any derivation thereof. For the foregoing reasons, the following decree nisi will be entered.40 17EC- R, E~St AND NOW, this I7a' day of May, ?Op2, upon consideration of Plaintiff's :1. complaint for declaratory judgment in the above-captioned case, and fotlowmg a nonjury , trial, it fs ordered, adjudged, decreed and declared that Plaintiff does not retain aft ownership interest in a corporation l:notivn as Pennsy Supply Inc,, or any derivation ~`; thereof, and that the transfers of shares in Pennsy Supply Inc., or any derivation thereof, i ~ 40 "The practice and procedure [inactions for declaratory relief] shall follorv, as nearly as ~ may be, the rules governing the Action in Equity." Pa. R.C.P. lGO1(a); see Pa. R.C.P. 15f 7(a) (describing the contents ofadjudication in equit}•). j ~~ ,, .. • . ,. at issue in this action were not voided by operation of the shareholders' agreement executed in 1961. THIS DECREE NISI shall automat'tca[ly become a final decree, without further j order of court, if no party in interest files a timely motion for post-trial relief in accordance with Pennsylvania Rule of Civil Procedure 227.3. BY THE CQURT, /s/ J. Weslev Uler. r. J. Wesley Qler, Jr., J. Robert M. Mumma, T[ Box E Bowmansdalc, PA 17008 Plaintiff, Pro Se Robert M. Mumma,lI 68$0 S.E. Harbor Circle ~3tuart, Fiorida 34996 Plaintiff, Pro Se Michael A. Finio, Esq. Stephan M. Donweber, Esq. Centre Square West 1500 Market Street, 28th Floor Philadelphia, PA 19102 Attorneys for Defendant Pennsy Supply, Inc. In T and 12 °" 'Rla TIDE}~ C:.,; e 3 4-.., s::t ~;: VERIFICATION No V. Otto III, Esquire, of the firm of MARTSON DEARDORFF WILLIAMS OTTO GILROY & FALLER, attorneys for Lisa M. Morgan in the within action, certifies that the statements made in the foregoing Response are true and correct to the best of his knowledge, information and belief, based upon information provided by Lisa M. Morgan. He understands that false statements herein are made subject to the penalties of 18 Pa. C.S. Section 4904 relating to unsworn falsification to authorities. No V. Otto III, Esquire CERTIFICATE OF SERVICE I, Ami J. Thumma, an authorized agent for Martson Deazdorff Williams Otto Gilroy & Faller, hereby certify that a copy of the foregoing Response was served this date by depositing same in the Post Office at Carlisle, PA, first class mail, postage prepaid, addressed as follows: Jeffrey G. Brooks, Esquire Minto Law Group, LLC Two Gateway Center 603 Stanwix Street, Suite 2025 Pittsburgh, PA 15222 Richard F. Rinaldo, Esquire Williams Coulson Johnson Lloyd Parker & Tedesco, LLC One Gateway Center, 16~' Floor Pittsburgh, PA 15222 Ms. Linda M. Mumma P.O. Box 30436 Bethesda, MD 20824 Joseph D. Buckley, Esquire 1237 Holly Pike Carlisle, PA 17013 Mr. Robert M. Mumma, II Box F Grantham, PA 17027 MARTSf~NI LAW By ~fii J. ~/ ' Ten East igh Street Carlisle, PA 17013 (717)243-3341 Date: March 15, 2013