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MATTER OF GOLDSTONE v. CITY BUILDERS, INC.

40 A.D.2d 971 (1972)

In the Matter of Jeane Goldstone et al., Appellants, v. City Builders, Inc., Respondent In the Matter of Edward S. Botwin et al., Appellants, v. Guaranteed Realty, Inc., Respondent In the Matter of Edward S. Botwin et al., Appellants, v. United Building Corp., Respondent. Peter W. Racklin et al., Respondents

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

December 14, 1972

The three corporations involved, own real estate parcels in New York and Bronx Counties. Two different families each own equal stock shares. The Racklin family has been in charge of operations since the death in 1966 of a member of the Goldstone family, because, with a deadlock between the two groups of shareholders, there was a failure to fill the Goldstone vacancy on the board of directors, which left the Racklin family in control. Special Term noted that while the parties...

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