MATTER OF CROSS PROPS., INC.


15 A.D.2d 908 (1962)

In the Matter of the Arbitration between Cross Properties, Inc., Appellant, and Gimbel Brothers, Inc., Respondent. Louis Goldstein, as Referee, Respondent

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

March 27, 1962


Order entered on October 26, 1961, awarding a fee of $50,000 to the Referee payable by the appellant, unanimously modified on the law, the facts and in the exercise of discretion, without costs, to the extent of reducing the fee to $25,000 and directing that each party pay one half thereof.

We find the amount awarded to the Referee for the services rendered by him to be excessive. We conclude that $25,000 would be fair compensation. We also conclude that the cost...

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