SLOANE v. 425 WEST 25TH ST. CORP.


8 A.D.2d 597 (1959)

Lucille Sloane, Individually and as a Stockholder of The 425 West 25th Street Corp., Suing on Behalf of Herself and All Other Stockholders Similarly Situated and in the Right of said Corporation, Appellant, v. 425 West 25th Street Corp. et al., Respondents, et al., Defendants

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

April 14, 1959


Final judgment in this stockholders' action for an accounting, damages, and other relief, unanimously affirmed on the facts and on the law, with costs to the respondents.

The second cause of action, in substance, alleges that loans of corporate funds, without interest, were made to other corporations controlled by the principal stockholder. These borrowers, tenants in the building owned by 425 West 25th Street Corp., paid substantial rents and made permanent improvements...

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