MATTER OF HORNSTEIN


35 A.D.2d 872 (1970)

In the Matter of the Claim of Paul Hornstein, Appellant. Martin P. Catherwood, as Industrial Commissioner, Respondent

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

November 12, 1970


Claimant, 69 years of age, and another each owned a 50% interest in a retail laundry corporation, the machinery, plant and equipment of which were sold in 1969, 78% of the purchase price being in notes and the sale being without a restrictive work covenant against the two stockholders. At one time 40 to 50 were employed but near the end the number dwindled to about 28. In 1962, 1964, 1966 and 1967 losses were sustained. In 1963, 1965 and 1969 there were very small profits...

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