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UNISYS CORP. v. HERCULES INC.

224 A.D.2d 365 (1996)

638 N.Y.S.2d 461

Unisys Corporation, Respondent-Appellant, v. Hercules Incorporated et al., Appellants-Respondents

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

February 29, 1996

This action arises out of the sale by plaintiff Unisys of its subsidiary, SP-Microwave, Inc. to defendant Hercules Incorporated, which renamed it Hercules Defense Electronics Systems, Inc. Insofar as is relevant on appeal, plaintiff seeks to recover funds advanced to SP-Microwave during the transition period — after signing of the stock purchase agreement and before closing — on the theory that the advancement constitutes...

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