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MATTER OF TONA

28 A.D.2d 779 (1967)

In the Matter of the Claim of Charles L. Tona, Appellant. Martin P. Catherwood, as Industrial Commissioner, Respondent

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

June 20, 1967

AULISI, J.

Claimant, a carpenter, formed a corporation with his wife and another couple. Each owned one share of stock and claimant was president and secretary. Apparently, there was no consideration given for the stock, the assets of the corporation were very limited and a loan was made to the corporation by claimant. Thereafter, claimant resigned his offices and transferred his stock to his wife. The other...

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