Chancellor Chandler approved on May 2, 2005, a Plan of Dissolution and Liquidation of Fab Industries, Inc., which until March 2005 was trading on the American Stock Exchange. Among the issues presented was whether there was an implied timetable under Section 275 of the DGCL by which a Certificate of Dissolution needed to be filed after a Plan of Dissolution was approved by the board and shareholders. Without deciding if there was a per se reasonable time period required under the statute, the Chancellor ruled that the period in this case was reasonable as it allowed up to 3 years for the Certificate of Dissolution to be filed, and during that period the board would try to find a buyer for the business. The sale of substantially all the assets was also contingent upon a Certificate of Dissolution being filed first, unless there was another shareholder vote to authorize that change from the Plan of Dissolution.