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PHILIPPSON v. HEXALON REAL ESTATE, INC.

111 A.D.2d 126 (1985)

Hilary Philippson et al., as Executors of Max Philippson, Deceased, Appellants-Respondents, v. Hexalon Real Estate, Inc., Defendant, and Arthur Andersen & Co., Respondent-Appellant

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

May 28, 1985

Pursuant to a leasing agreement executed in 1969, decedent Max Philippson became entitled, for a 30-year period, to 20% of the net income of a certain real estate project consisting of the State Street Bank Building in Boston, Massachusetts. In 1977, defendant Hexalon Real Estate, Inc. (Hexalon) fully assumed the obligations to Philippson under the leasing agreement, which expressly required Hexalon to retain a firm of certified public accountants to determine the annual...

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