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HELLER v. HARTZ MOUNTAIN INDUSTRIES

270 N.J. Super. 143 (1993)

636 A.2d 599

EUGENE HELLER, INDIVIDUALLY AND AS TRUSTEE FOR THE BENEFIT OF BONNI S. HELLER AND TODD A. HELLER, PLAINTIFF, v. HARTZ MOUNTAIN INDUSTRIES, INC., AND LEONARD N. STERN, DEFENDANTS. HARTZ MOUNTAIN INDUSTRIES, INC., PLAINTIFF, v. EUGENE HELLER, INDIVIDUALLY AND AS TRUSTEE FOR THE BENEFIT OF BONNI S. HELLER AND TODD A. HELLER, DEFENDANT.

Superior Court of New Jersey, Law Division Hudson County.

Decided August 27, 1993.

Attorney(s) appearing for the Case

Laurence B. Orloff for plaintiff/defendant Heller (Orloff, Lowenbach, Stifelman & Siegel, and Kramer, Levin, Naftalis, Nessen, Kamin & Frankel (of the New York bar), attorneys; Mr. Orloff, Arthur H. Aufses, III, and Richard M. Molot, on the brief).

David I. Goldblatt for plaintiff Hartz Mountain and defendants Stern and Hartz Mountain (Proskauer, Rose, Goetz & Mendelsohn (of the New York bar) and DeCotiis & Pinto, attorneys; Mr. Goldblatt and Sheila M. Gowan, on the brief).

D'ITALIA, J.S.C.

This matter is before the court on cross-motions for summary judgment. The motions present significant questions regarding the applicability of fiduciary standards to a partner managing the buyout of a co-partner and the standards of impartiality to which party-designated appraisers should be held.

These consolidated actions arise out of plaintiff Eugene Heller's ("Heller") withdrawal from...

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