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MATTER OF GUSMAN

178 A.D.2d 597 (1991)

In the Matter of Lucrezia D'A. Gusman, Also Known as Chris Gusman, Deceased. North Shore Masons Supply Corp. et al., Respondents; Michael Gusman et al., Appellants

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

December 23, 1991

Ordered that the decree is affirmed, with costs payable by the appellants personally.

North Shore Masons Supply Corp. (hereinafter NSMS), a closely-held corporation, had three shareholders when the shareholders' agreement was entered into in 1963: Michael D'Amelio, its founder, held 260 shares or 52% of the stock, and his two daughters Angelina Balducci and Lucrezia D'Amelio Gusman each held 120 shares or 24% of the stock. The shareholders' agreement provided, in...

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