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BUKHATIR MACKINNON LTD. v. SARFRAZ

130 A.D.2d 358 (1987)

Bukhatir Mackinnon Limited, Respondent-Appellant, v. Naeem H. Sarfraz et al., Appellants-Respondents

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

May 7, 1987

Plaintiff Bukhatir Mackinnon Limited is a shipping company, organized under the laws of Sharjah, United Arab Emirates, which owns and operates its own vessels and acts as managing agent for vessels owned by others. In 1980 defendant Naeem H. Sarfraz purchased 25% of the shares in plaintiff corporation, and ascended to the position of managing director. Later that year, on behalf of plaintiff, Sarfraz formed an agreement with defendant...

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