STEPHENS v. MAUST


11 A.D.2d 1004 (1960)

D. Mallory Stephens, Suing as a Stockholder and as a Director of Penn State Fuel Corporation, on Behalf of That Corporation, Respondent, v. John R. Maust et al., Appellants

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

October 18, 1960


Order, entered July 21, 1960, directing dissolution of Penn State Fuel Corporation, unanimously modified, on the law and on the facts and in the exercise of discretion, without costs, to the extent of limiting the provision in the second decretal paragraph which would appear to require distribution of all the corporate assets within a specified time, and as so modified, the order is affirmed.

While the distribution of a portion of the corporation's cash assets can...

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