MAXXAM transferred the shares to its wholly owned subsidiary corporation, Pacific Lumber, a Delaware corporation (hereinafter PL-Delaware). Hurwitz, chairman of the board and majority stockholder of a corporation called MAXXAM and Ivan Boesky, Michael Milken, and Drexel-Burnham-Lambert) MAXXAM acquired title to all the shares of PL-Maine. In the complaint, real party alleges that through the fraud of numerous defendants (which include Charles E. This actions seeks rescission of the merger and restoration of ownership of PACIFIC LUMBER and its assets, including the land and timber located in Humboldt County, to its former shareholders, based in part, upon the failure of the named defendants to comply with the provisions of the Ninth and Tenth Articles of the Articles of Incorporation of THE PACIFIC LUMBER COMPANY, a Maine corporation, as well as the other acts of the defendants complained of herein, including acts of fraud." The complaint described the nature of the action in part as follows: "(b) This action affects title to or right of possession of the real property owned by PACIFIC LUMBER in Humboldt County, California. On March 26, 1990, Martel commenced this suit as a class action on behalf of the former shareholders of Pacific Lumber Company, a Maine corporation (hereinafter PL-Maine). We agree that real party did not meet his burden of establishing that the action affects title to or right of possession of the real property and for that reason the lis pendens should have been expunged. Petitioner Pacific Lumber Company seeks a writ of mandate to require respondent court to expunge a lis pendens which has been filed against petitioner's real property in Humboldt County by real party in interest, Robert Martel.
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