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MATTER OF ELLIOT KASTLE, INC. RICHARD KASTLEMAN

234 A.D.2d 181 (1996)

651 N.Y.S.2d 485

In the Matter of the Dissolution of Elliot Kastle, Inc. Richard Kastleman, Appellant; William Shalom, Respondent

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

December 19, 1996

In an earlier order the IAS Court had denied petitioner's petition to dissolve the corporation, of whose stock he was a one-third owner, on the basis of the election by respondent William Shalom, a 20½% shareholder, to purchase petitioner's shares pursuant to Business Corporation Law § 1118 (a), which enables a corporation to avoid dissolution by buying out the petitioning shareholder for the fair value of his shares ...

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