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MTR. OF GLEKEL (GLUCK)

37 A.D.2d 1 (1971)

In the Matter of the Arbitration between Newton Glekel, Appellant, and Maxwell H. Gluck, Respondent

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

June 10, 1971.

Attorney(s) appearing for the Case

George G. Gallantz of counsel (David J. Stern, Bruce S. Wolff and Mayer G. Freed with him on the brief; Proskauer Rose Goetz & Mendelsohn, attorneys), for appellant.

Jesse Climenko of counsel (Joel I. Papernik with him on the brief; Shea Gallop Climenko & Gould, attorneys), for respondent.

CAPOZZOLI, J. P., MARKEWICH and MACKEN, JJ., concur with McNALLY, J.; NUNEZ, J., dissents in an opinion.

McNALLY, J.

Petitioner-appellant Glekel appeals from a judgment of the Supreme Court, New York County, denying his application to stay an arbitration sought to be initiated by respondent Gluck.

For the reasons hereinafter stated, we hold the agreement relied on to be void, against public policy and in violation of section 701 of the Business Corporation Law and accordingly we reverse, on the law, with costs...

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