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McGLYNN v. SCHULTZ

95 N.J. Super. 412 (1967)

231 A.2d 386

ROGER H. McGLYNN, RECEIVER OF NEPTUNE CENTER ASSOCIATES, PLAINTIFF-RESPONDENT, v. MORTIMER L. SCHULTZ, ET AL., DEFENDANTS, AND DAVID H. JACKSON, ET AL., DEFENDANTS-APPELLANTS, AND JACK E. PORTIS, ET AL., DEFENDANTS-RESPONDENTS.

Superior Court of New Jersey, Appellate Division.

Decided June 14, 1967.

Attorney(s) appearing for the Case

Messrs. Pitney, Hardin & Kipp, attorneys for appellant David H. Jackson (Mr. S. Joseph Fortunato, of counsel).

Mr. Richard L. Amster argued the cause for appellant Gerald I. Lebau.

Mr. D.F. Moore Craig argued the cause for appellant Alexander C. Greyson (Messrs. Bracken & Walsh, attorneys).

Mr. Saul J. Zucker argued the cause for appellant Thomas H. Vaughn (Messrs. Kristeller, Zucker, Lowenstein & Cohen, attorneys).

Messrs. Waldor & Hochberg, attorneys for appellant Norman R. Berson (Mr. George S. Hochberg, of counsel).

Mr. Albert G. Besser argued the cause for respondent Roger H. McGlynn, receiver of Neptune Center Associates (Messrs. Hannoch, Weisman, Stern & Besser, attorneys; Mr. James J. Shrager, on the brief).

Before Judges GOLDMANN, KILKENNY and COLLESTER.

The opinion of the court was delivered by KILKENNY, J.A.D.

Defendants David H. Jackson, Gerald I. Lebau, Alexander C. Greyson, Thomas H. Vaughn and Norman R. Berson appeal from a judgment in favor of plaintiff receiver, imposing liability against them individually in the amount of $388,900. The basis of liability was that they had, as directors of Office Buildings of America, Inc. (hereinafter "O.B.A."), a corporation...

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