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MATTER OF KUNIN (TITLE GUAR. & TRUST CO.)

281 A.D. 635 (1953)

In the Matter of Harry Kunin et al., as Stockholders of Title Guarantee and Trust Company, Appellants. Title Guarantee and Trust Company, Respondent

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

May 12, 1953.

Attorney(s) appearing for the Case

Joseph K. Reichbart of counsel (Lester Gutterman with him on the brief; Gutterman, Newman & Reichbart, attorneys), for appellants.

Joseph V. McKee of counsel (John J. Boyle with him on the brief; Joseph V. McKee, attorney), for respondent.

PECK, P. J., GLENNON, DORE and BERGAN, JJ., concur in Per Curiam opinion; VAN VOORHIS, J., dissents and votes to affirm, with costs, in opinion.

Per Curiam.

On this record we believe that respondent, Title Guarantee and Trust Company, made the transfers here in question in good faith and for a purpose that the directors and officers considered was for the best interests of the corporation and the stockholders. Petitioners appellants, however, owning a total of 5,800 shares of respondent's stock and owners of many shares for years, objected and disapproved the...

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