NYF PROPS. CORP. v. SB INVESTORS, LTD.


96 A.D.2d 481 (1983)

NYF Properties Corp., Appellant, v. SB Investors, Ltd., et al., Respondents. (Action No. 1.) Coronet Properties Corporation, on Behalf of Itself as a Shareholder of NYF Properties Corp., and in the Right of NYF Properties Corp., et al., Respondents, v. NYF Properties Corp. et al., Appellants. (Action No. 2.)

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

July 14, 1983


Reversed, on the law and facts, with costs and disbursements, and the motion for a preliminary injunction denied and the matter remanded for further proceedings.

The stay, by Special Term, of action No. 1 was improvidently granted under the circumstances herein. Plaintiffs in action No. 2 failed to demonstrate a clear likelihood of success on the merits. They showed that only minority shareholders of NYF and perhaps a single officer objected to the litigation. The...

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