GRAMMAS v. CHARLA


53 A.D.2d 660 (1976)

John Grammas, on Behalf of Himself as a Director and a Shareholder of Bellon Steel Co., Inc., and in The Right of Bellon Steel Co., Inc., and on Behalf of All Other Shareholders Similarly Situated, Respondent-Appellant, v. Joseph Charla, Jr., et al., Appellants-Respondents

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

June 21, 1976


Interlocutory judgment affirmed insofar as appealed from, with costs.

Plaintiff entered into an agreement with Charla whereby the latter became a 50% shareholder in Bellon, with a salary of at least $20,000 a year payable by Bellon. Charla was to arrange financing for Bellon and became its president, treasurer and chief executive officer. Charla was also the sole owner of Iron Works. Charla formed a joint venture between Bellon and Iron Works, which were both in the...

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