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MATTER OF GIFT PAX

123 Misc.2d 830 (1984)

In the Matter of the Dissolution of Gift Pax, Inc. William R. Fleischer, Petitioner; Gift Pax, Inc., et al., Respondents.

Supreme Court, Special Term, Nassau County.

April 2, 1984

Attorney(s) appearing for the Case

Ballon, Stoll & Itzler for petitioner. Proskauer Rose Goetz & Mendelsohn for respondents.

VINCENT R. BALLETTA, J.

This is a special proceeding brought by the petitioner as a minority shareholder in the respondent corporations (hereinafter referred to collectively as Gift Pax) pursuant to section 1104-a of the Business Corporation Law. This section provides that a holder of 20% or more of the outstanding shares of a corporation may petition for dissolution on the following grounds:

"(1) The directors or those in control of the corporation...

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