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SARKIN v. NATES AUTO PARTS

166 Misc.2d 913 (1995)

636 N.Y.S.2d 985

Laurence P. Sarkin et al., Plaintiffs and Third-Party Plaintiffs, v. Nates Auto Parts, Inc., Defendant. Francis P. Cappello, Third-Party Defendant.

Supreme Court, St. Lawrence County.

December 20, 1995

Attorney(s) appearing for the Case

Conboy, McKay, Bachman & Kendall, L. L. P. (Stephen W. Gebo of counsel), for plaintiffs and third-party plaintiffs. Hiscock & Barclay, L. L. P. (John P. Langan of counsel), for defendant. Sugarman, Wallace, Manheim & Schoenwald, L. L. P. (Samuel M. Vulcano of counsel), for third-party defendant.

DAVID DEMAREST, J.

This case finds its genesis in a highly leveraged buyout during the mid-1980's wherein plaintiffs sold the family business, defendant Nates Auto Parts, Inc. (Nates), to Mr. Vowles (Vowles) and Mr. Scheidel (Scheidel) for approximately $1.5 million and some additional consideration.1 The sale was completed in October 1986 and less than a year and one-half later...

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