MATTER OF VALIDATION REVIEW ASSOCS., INC.


223 A.D.2d 134 (1996)

646 N.Y.S.2d 149

In the Matter of the Dissolution of Validation Review Associates, Inc. Mordecai Berkun, Respondent; David Schimel, Appellant

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

July 29, 1996


Attorney(s) appearing for the Case

Levitt & Cohen, Williston Park (Steven L. Levitt of counsel), for appellant.

Gerry E. Feinberg, White Plains (Pamela A. Phillips on the brief), for respondent.

ROSENBLATT, J. P., HART and KRAUSMAN, JJ., concur.


RITTER, J.

We are asked to determine the validity of a provision within a shareholders agreement to waive the statutory and common-law right to petition for a judicial dissolution of a closely held corporation. On the facts presented, we find such a provision to be unenforceable as against public policy.

In 1989 the petitioner, Mordecai Berkun, a licensed physician, and the appellant, David Schimel,...

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