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  5. 75 N.Y.2d 511 (1990)
 

MATTER OF KANE

75 N.Y.2d 511 (1990)

In the Matter of Alan Kane, Petitioner. Harold Freedman et al., Respondents; Irving Tenenbaum, Appellant.

Court of Appeals of the State of New York.

Decided April 5, 1990.

Attorney(s) appearing for the Case

A. Thomas Levin for appellant.

William H. Pauley III, Charles D. Cunningham and Lyle D. Brooks for Harold Freedman and another, respondents.

Judges SIMONS, KAYE, ALEXANDER, TITONE and HANCOCK, JR., concur; Chief Judge WACHTLER taking no part.

BELLACOSA, J.

The issue is whether a court-appointed receiver, as part of an over-all settlement between two litigating shareholders of a close corporation, can privately negotiate a fee without court approval in an amount exceeding the scheduled maximums fixed by section 1217 of the Business Corporation Law. Our answer is no.

Alan Kane and Harold Freedman were each 50% shareholders of S.A.E. Motor Parts...

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