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SANDFIELD v. GOLDSTEIN

71 Misc.2d 735 (1972)

Sylvia Sandfield, on Behalf of Herself and All Other Stockholders of Thruway Outdoor Theatre Corporation, Similarly Situated, Plaintiff, v. Louis Goldstein et al., Defendants.

Supreme Court, Fulton County.

August 18, 1972

Attorney(s) appearing for the Case

Maider, Smith & Maider (Lydon F. Maider of counsel), for plaintiff. Ernest Abdella and George Abdella for Louis Goldstein and others, defendants.

WILLIAM J. CRANGLE, J.

Plaintiff is a minority shareholder of the defendant corporation and brings this action for dissolution of the corporation under the equitable principle enunciated in Leibert v. Clapp (13 N.Y.2d 313), to the effect that the relief of dissolution is available as a matter of judicial sponsorship when the majority shareholders are looting a corporation's assets and have abandoned their fiduciary...

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