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AULT v. SOUTTER

204 A.D.2d 131 (1994)

611 N.Y.S.2d 187

Bromwell Ault, Respondent, v. John D. Soutter et al., Defendants, and Ambrose Monell, Appellant

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

May 10, 1994

Having expressly acquiesced in the corporation's improper loan of almost $1,000,000 to his co-defendant, which led to the extensive self-dealing that has already been established (see, Ault v Soutter, 167 A.D.2d 38, 40-42, lv dismissed 81 N.Y.2d 1007), defendant-appellant cannot belatedly dispute that he breached his fiduciary duty to the corporation's minority shareholders by "failing to do more than passively rubberstamp...

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