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SCHEUER FOUND. v. 61 ASSOCS.

179 A.D.2d 65 (1992)

S.H. and Helen R. Scheuer Family Foundation, Inc., By and Through Steven H. Scheuer, as Director, Member and Individually, Appellant, v. 61 Associates et al., Respondents

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

March 26, 1992

Attorney(s) appearing for the Case

Henry P. Wasserstein of counsel (Daniel L. Kurtz and Robert D. Balin with him on the brief; Lankenau & Bickford and Skadden, Arps, Slate, Meagher & Flom, attorneys), for appellant.

Aaron Rubinstein of counsel (Peter M. Fishbein, Mark D. Godler and Michael K. Rozen with him on the brief; Kaye, Scholer, Fierman, Hays & Handler, attorneys), for respondents.

CARRO, J. P., MILONAS and KUPFERMAN, JJ., concur.

ELLERIN, J.

Resolution of this appeal is dependent upon whether or not the "business judgment rule" is applicable to the complained-of acts by the defendant corporate directors.

Plaintiff, Steven H. Scheuer, is one of five children of Simon H. and Helen R. Scheuer. From 1984 until September 1989, he served as one of 12 directors and members of the S.H. and Helen R. Scheuer Family Foundation (Foundation...

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