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MANHATTAN EYE, EAR v. SPITZER

186 Misc.2d 126 (1999)

715 N.Y.S.2d 575

In the Matter of MANHATTAN EYE, EAR & THROAT HOSPITAL, Petitioner, and MEMORIAL SLOAN KETTERING CANCER CENTER et al., Intervenors, v. ELIOT SPITZER, as Attorney General of the State of New York, Respondent, and BOARD OF SURGEON DIRECTORS of MANHATTAN EYE, EAR & THROAT HOSPITAL et al., Intervenors.

Supreme Court, New York County.

December 3, 1999.

Attorney(s) appearing for the Case

LeBoeuf, Lamb, Greene & MacRae, L. L. P. (Peter K. Vigeland, John M. Aerni and Patricia A. Taylor of counsel), for petitioner.

Eliot Spitzer, pro se, and William Josephson, J. Robert Pigott and Sandra Giorno-Tocco of counsel), for Eliot Spitzer, respondent.

Paul, Weiss, Rifkind, Wharton & Garrison (Michael P. Gutnick and Steven B. Rosenfeld of counsel), for Memorial Sloan Kettering Cancer Center, intervenor.

Wachtel & Masyr, L. L. P. (John W. McConnell of counsel), for Downtown Development Group/Colony Capital, intervenor.

Stillman & Friedman, P. C. (Charles A. Stillman, Scott M. Himes and Peter E. Dolotta of counsel), for Board of Surgeon Directors of Manhattan Eye, Ear & Throat Hospital and another, intervenors.

McDermott, Will & Emory (Andrew B. Roth of counsel), for Lenox Hill Hospital, intervenor.

Swidler, Berlin, Shereff, Friedman, L. L. P. (Kevin O'Brien and Heather Gottry of counsel), for Continuum Health Partners, Inc., intervenor.

Levy, Ratner & Behroozi, P. C. (Elizabeth A. Baker of counsel), for 1199 National Health & Human Service Employees Union, intervenor.

OPINION OF THE COURT

BERNARD J. FRIED, J.

The Manhattan Eye, Ear & Throat Hospital (MEETH or the Hospital) has petitioned for authorization to sell substantially all of its assets, pursuant to Not-For-Profit Corporation Law § 511, which requires that the court be satisfied that the "consideration and the terms of the transaction are fair and reasonable" and that the "purposes of the corporation * * * will be promoted." (Not-For-Profit Corporation...

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