KIM v. TRANSTAR METALS, INC.


284 A.D.2d 118 (2001)

726 N.Y.S.2d 87

SPENCER H. KIM, Respondent, v. TRANSTAR METALS, INC., et al., Appellants.

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

Decided June 5, 2001.


The subject stock purchase agreement provides for an adjustment of the purchase price based on a comparison of the purchased company's "net working capital" amounts taken from two financial statements, the first as of a date before the closing and prepared by the purchased company and the second as of closing date and prepared by the purchasing company. "[U]nresolved disputed items" in the post-closing statement were to be arbitrated before a designated accountant. When the...

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