Judgment reversed, on the law and as a matter of discretion, and the proceeding is remitted to Special Term for a new trial and further proceedings in accordance herewith, with costs to abide the event.
In February, 1978, Esses & Co., Inc. (hereinafter the corporation), a holding company, defaulted on an unsecured note wherein petitioners' predecessor, Gustav Golden, was the payee. There was then owing the sum of $70,000. The corporation's principals, who each...
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