Wednesday, January 1, 2014

Wollman v. Littman case brief

Wollman v. Littman case brief summary
316 N.Y.S.2d 526 (1970)

CASE SYNOPSIS
Defendants stockholders appealed from an order of the Supreme Court in New York County (New York) ordering dissolution of a corporation and appointing a receiver.

CASE FACTS
Plaintiffs and defendants held equal amounts of stock in a fabric company and were equally represented on the board of directors. Defendants accused plaintiffs of attempting to lure the company's customers away to another corporation controlled by plaintiffs' father. Plaintiffs filed an action seeking dissolution of the corporation, claiming that effective management was impossible.

PROCEDURAL HISTORY
The trial court ordered dissolution and appointed a receiver.

DISCUSSION
The appellate court affirmed the appointment of a receiver but ruled that dissolution should not occur without a full trial of the issues.

CONCLUSION
The appellate court affirmed the appointment of a receiver but ruled that dissolution should not occur without a full trial of the issues.

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