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DIVERSIFIED INVESTORS CORP. v. DIVERSIFAX, INC.

239 A.D.2d 231 (1997)

657 N.Y.S.2d 642

Diversified Investors Corp., Appellant, v. DiversiFax, Inc., et al., Respondents

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

May 15, 1997

In November 1993, plaintiff was among the majority stockholders of Fax. That month, Fax and several companies owned by an outside investor merged, resulting in a complete shift of stockholder control of Fax. This same transaction also resulted in acknowledgment by Fax of a $228,000 indebtedness to plaintiff and three other creditors. Plaintiff is now the assignee of two of the other creditors; the remaining creditor, Rothman, is...

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