Case Name: Max Eisenberg, on Behalf of Himself and All Other Stockholders of Central Zone Property Corporation, Similarly Situated, Respondent, v. Central Zone Property Corporation, Appellant, et al., Defendants
Court: New York Supreme Court, Appellate Division
Jurisdiction: New York
Decision Date: 1953-02-17
Citations: 281 A.D. 817
Docket Number: 
Parties: Max Eisenberg, on Behalf of Himself and All Other Stockholders of Central Zone Property Corporation, Similarly Situated, Respondent, v. Central Zone Property Corporation, Appellant, et al., Defendants.
Judges: 
Reporter: Appellate Division Reports
Volume: 281
Pages: 817–817

Head Matter:
Max Eisenberg, on Behalf of Himself and All Other Stockholders of Central Zone Property Corporation, Similarly Situated, Respondent, v. Central Zone Property Corporation, Appellant, et al., Defendants.

Opinion:
Order unanimously reversed, plaintiff's motion for judgment on the pleadings denied and defendant's cross motion granted. The complaint as amplified by the incorporated exhibits does not charge the proposal of an illegal plan. Bach of the major phases of the plan was authorized by statute. The transfer to the Delaware corporation was authorized by section 20 of the Stock Corporation Law, subject of course to the right of appraisal in dissenting stockholders. The prospective dissolution of the New York corporation involving a distribution of securities was authorized by section 105 of the Stock Corporation Law subject, once again, to the right of appraisal of dissenting stockholders. Settle order on notice. Present — Dore, J. P., Cohn, Callahan, Van Voorhis and Breitel, JJ. [203 Misc. 59.]