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MATTER OF GLENN

233 A.D.2d 248 (1996)

650 N.Y.S.2d 128

In the Matter of the Arbitration between Clinton Glenn, Appellant, and M. Neil Redford, Respondent

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

November 26, 1996

On July 12, 1990, petitioner Clinton Glenn purchased from respondent M. Neil Redford all shares of Bell Redford Glenn, Inc. (BRG), a subchapter "S" corporation. Under the terms of the stock purchase agreement, Redford resigned as president and secretary of BRG and was elected chairman of the corporation's board of directors; Glenn became the president, chief executive, and chief administrative officer of the corporation, with sole authority for its daily operations. Also...

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