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GORDON v. ELLIMAN

280 A.D. 655 (1952)

Ada Gordon, on Behalf of Herself and All Other Stockholders of Hotel Barbizon, Inc., Appellant, v. Lawrence B. Elliman et al., Defendants, and Hotel Barbizon, Inc., Respondent

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

November 12, 1952.

Attorney(s) appearing for the Case

Aaron Schwartz of counsel (Mortimer A. Shapiro with him on the brief; Nemerov & Shapiro, attorneys), for appellant.

Sidney G. Kingsley of counsel (Sylvester & Harris, attorneys), for respondent.

DORE and COHN, JJ., concur with PECK, P. J.; CALLAHAN, J., dissents, in opinion.

PECK, P. J.

The question on this appeal is whether an action by a stockholder against a corporation and its directors to compel the declaration of a dividend is an action in the "right" of the corporation, requiring the plaintiff, under section 61-b of the General Corporation Law, to give security for the expenses which may be incurred by the corporation in the action.

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