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CARMEUSE v. M.J. STAVOLA INDUSTRIES, INC.

No. 91 Civ. 7642 (RLC).

823 F.Supp. 125 (1993)

S.A. CARMEUSE and Calcitherm Holding N.V., Plaintiffs, v. M.J. STAVOLA INDUSTRIES, INC. and Citibank, N.A., as Escrow Agent, Defendants.

United States District Court, S.D. New York.

May 10, 1993.

Attorney(s) appearing for the Case

Sullivan & Cromwell (Philip L. Graham, Jr., Anthony DiSarro, Jeffrey W. Berkman, of counsel), New York City, for plaintiffs.

Parker Chapin Flattau & Klimpl, New York City (Stephen G. Rinehart, of counsel), for defendant M.J. Stavola Industries, Inc.

Citibank, N.A., New York City (Rebecca Knowles, of counsel).

OPINION

ROBERT L. CARTER, District Judge.

On December 24, 1986, the plaintiffs, S.A. Carmeuse and Calcitherm Holding N.V., sold the defendant, M.J. Stavola Industries, Inc. ("MJS"), all of the outstanding common stock of Amcar, Inc. ("Amcar"), a Florida-based holding company with three subsidiaries, Dixie Lime and Stone Company ("Dixie"), Tonk Products, Inc. ("Tonk"), and Southern Materials Corporations ("SMC"). Pursuant to the Stock Purchase Agreement...

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