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MATTER OF ASSAEL v. ASSAEL

132 A.D.2d 4 (1987)

In the Matter of Bernard Assael et al., as Holders of One Half of All Outstanding Shares of Daisy Sportswear, Inc., Respondents, v. Jerome Assael et al., Appellants

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

November 19, 1987

Attorney(s) appearing for the Case

Martin Stein of counsel (Certilman Haft Lebow Balin Buckley & Kremer, attorneys), for respondents.

Bernard S. Meyer of counsel (Edwin Gold and Robert B. Gold with him on the brief; Gold & Gold and Meyer, Suozzi, English & Klein, P. C., attorneys), for appellants.

KUPFERMAN, J. P., SULLIVAN and KASSAL, JJ., concur with SANDLER, J.; SMITH, J., dissents in an opinion.

SANDLER, J.

Petitioners and respondents, two brothers and their respective families, each own 50% of the shares of Daisy Sportswear, Inc. (Daisy), a manufacturer of women's sportswear. Daisy was comprised of a Department Store Division operated by petitioners and a Discount Division operated by respondents. After escalating disputes between petitioners and respondents became disruptive of Daisy's business operations...

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