The IAS Court applied the proper standard in determining the motion since CPLR 7601 provides an agreement to submit a valuation question to an independent appraiser may be enforced by a court in the same manner as would an arbitration agreement under CPLR article 75. An appraisal determination should be upheld in the absence of fraud, bias or bad faith (see, Rice v Ritz Assocs.,
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LIBERTY FABRICS, INC. v. CORPORATE PROPS. ASSOCS. 5
223 A.D.2d 457 (1996)
636 N.Y.S.2d 781
Liberty Fabrics, Inc., Respondent, v. Corporate Properties Associates 5 et al., Appellants
Appellate Division of the Supreme Court of the State of New York, First Department.https://leagle.com/images/logo.png
January 23, 1996
January 23, 1996
Appellate Division of the Supreme Court of the State of New York, First Department.
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