MATTER OF BALLARD


176 A.D.2d 428 (1991)

In the Matter of the Claim of Raymond J. Ballard, Appellant. Thomas F. Hartnett, as Commissioner of Labor, Respondent

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

September 26, 1991


The evidence establishes that claimant sold his 50% interest in the corporation after the other stockholder insisted that claimant either sell said interest or buy him out. The business was not in imminent danger of failing and had not filed for bankruptcy; nor did there appear to be any problem with paying both stockholders a salary. As such, claimant has failed to demonstrate a compelling reason for the sale, and the fact that...

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