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MCC PROCEEDS, INC. v. ADVEST, INC.

293 A.D.2d 331 (2002)

743 N.Y.S.2d 1

MCC PROCEEDS, INC., Respondent-Appellant, v. ADVEST, INC., Appellant-Respondent.

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

Decided April 11, 2002.

This appeal arises out of a scheme by the now-deceased media tycoon Robert Maxwell (Maxwell) and several of his associates in November 1990 to use Maxwell's control over publicly traded Macmillan, Inc. (Macmillan) to transfer 10.6 million shares of publicly traded Berlitz International, Inc. (Berlitz), representing 55.6% of the outstanding shares, improperly from Macmillan to a privately controlled entity, Bishopsgate Investment...

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