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KIMELDORF v. FIRST UNION

309 A.D.2d 151 (2003)

764 N.Y.S.2d 73

GEORGE KIMELDORF, Respondent, v. FIRST UNION REAL ESTATE EQUITY AND MORTGAGE INVESTMENTS et al., Appellants.

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

September 4, 2003.

Attorney(s) appearing for the Case

Danielle C. Lesser of counsel (Jerome Tarnoff, Edward P. Gilbert, Kristin T. Roy, Jay R. Speyer, Michael D. Braun and Jules Brody on the brief; Morrison Cohen Singer & Weinstein, LLP and Stull, Stull & Brody, attorneys), for respondent.

David J. Cynamon of counsel (Robert L. Plotz, Sarah P. Karwan, David C. Weiner, Michael J. Garvin, Sonja C. Rice, Theodore N. Mirvis, Rachelle Silverberg, William Savitt and Steven J. Pearl on the brief; Shaw Pittman LLP, Orans, Elsen & Lupert LLP, Hahn Loeser & Parks LLP and Wachtell, Lipton, Rosen & Katz, attorneys), for appellants.

Robert I. Harwood of counsel (Samuel K. Rosen on the brief; Wechsler Harwood LLP and Gerald W. Berger, attorneys), for Robert F. Fink, amicus curiae.

TOM, J.P., MAZZARELLI, ROSENBERGER and WILLIAMS, JJ., concur.

OPINION OF THE COURT

ANDRIAS, J.

On its face, this is a simple matter of the merger of two real estate ventures, First Union Real Estate Equity and Mortgage Investments (First Union) and nonparty Gotham Golf Partners, a Delaware limited partnership, to form Gotham Golf Corporation, a Delaware corporation. First Union is a real estate investment trust (REIT) organized under Ohio law.1 Under the merger plan, the common shareholders...

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