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BIONDI v. BEEKMAN HILL APT.

257 A.D.2d 76 (1999)

692 N.Y.S.2d 304

NICHOLAS A. BIONDI, Respondent, v. BEEKMAN HILL HOUSE APARTMENT CORPORATION, Appellant.

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

May 27, 1999.

Attorney(s) appearing for the Case

Victor M. Metsch of counsel, New York City (Edward L. Schiff and Thomas V. Juneau, Jr., on the brief; Hartman & Craven, L. L. P., attorneys), for respondent.

Daniel F. Markham, P. C., New York City, for appellant.

ELLERIN, P. J., WILLIAMS and WALLACH, JJ., concur.

OPINION OF THE COURT

SULLIVAN, J.

This appeal presents the issue of whether a director of a corporation is entitled to indemnification under the corporation's by-laws of the sum the director owes as punitive damages under a settlement agreement in an underlying lawsuit, in which, after trial, the director was held liable. The sum due under the settlement agreement represented, as a compromise, only a portion of the punitive damage awards rendered against...

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