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NEW YORK CREDIT MEN'S ADJ. BUR. v. WEISS

278 A.D. 501 (1951)

New York Credit Men's Adjustment Bureau, Inc., as Trustee in Bankruptcy of W. F. Irish Co., Inc., Bankrupt, Appellant, v. Milton M. Weiss et al., Respondents

Appellate Division of the Supreme Court of the State of New York, First Department.

June 29, 1951.

Attorney(s) appearing for the Case

Benjamin Weintraub of counsel (Melvin I. Pitt with him on the brief; Levin & Weintraub, attorneys), for appellant.

Robert I. Ruback of counsel (Sydney Basil Levy with him on the brief; Smith & Carroad and Robert I. Ruback, attorneys), for respondents.

GLENNON, CALLAHAN, SHIENTAG and HEFFERNAN, JJ., concur.

PECK, P. J.

The trustee in bankruptcy of W. F. Irish Co., Inc., brings an action under section 60 of the General Corporation Law against the two defendants, who are the officers, directors and stockholders of the corporation, to compel them to pay the value of property which they have wasted through neglect of or failure to perform their fiduciary duties.

The corporation, which was in the business of selling...

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