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HEALTH-CHEM CORP. v. BAKER

No. 88 Civ. 5605 (KTD).

737 F.Supp. 770 (1990)

HEALTH-CHEM CORPORATION, Plaintiff, v. Leon C. BAKER, Defendant and Counterclaim Plaintiff, v. HEALTH-CHEM CORPORATION, Counterclaim Defendant, and Marvin M. Speiser and The Bank of New York Co., Inc., Additional Defendants On Counterclaims.

United States District Court, S.D. New York.

February 26, 1990.

Attorney(s) appearing for the Case

Fried, Frank, Harris, Shriver & Jacobson, New York City, for plaintiff; Allen Kezsbom, of counsel.

Keck Mahin Cate & Koether, New York City, for defendant and counterclaim plaintiff Leon C. Baker; Mathew E. Hoffman, of counsel.

Shea & Gould, New York City, for additional defendants on counterclaims Marvin M. Speiser and The Bank of New York Co., Inc.; Mitchell J. Geller, of counsel.

MEMORANDUM AND ORDER

KEVIN THOMAS DUFFY, District Judge:

Rifts among directors of a corporation are not infrequent. Nor is it uncommon for such disputes to lead to protracted, often vitriolic, legal proceedings. As such, this action, which arises out of a written "Settlement Agreement" purporting to resolve differences between bickering directors of the plaintiff Health-Chem Corporation ("Health-Chem"), is not unusual. What distinguishes it from similar...

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