Case Name: George W. Loft Securities Corporation, Respondent, v. Tobacco Products Corporation, a Virginian Corporation, and Others, Appellants, and Frederick K. Morrow, Defendant
Court: New York Supreme Court, Appellate Division
Jurisdiction: New York
Decision Date: 1934-07
Citations: 242 A.D. 710
Docket Number: 
Parties: George W. Loft Securities Corporation, Respondent, v. Tobacco Products Corporation, a Virginian Corporation, and Others, Appellants, and Frederick K. Morrow, Defendant.
Judges: 
Reporter: Appellate Division Reports
Volume: 242
Pages: 710–710

Head Matter:
George W. Loft Securities Corporation, Respondent, v. Tobacco Products Corporation, a Virginian Corporation, and Others, Appellants, and Frederick K. Morrow, Defendant.

Opinion:
Order granting- plaintiff's motion for summary judgment under rule 113 of the Rules of Civil Practice and the judgment entered thereon reversed on the law and the facts, with ten dollars costs and disbursements, and motion denied, with ten dollars costs. In our opinion, the plaintiff, not having become a party to the plan by the deposit of its securities, cannot reap the-benefits thereof and is limited to the provisions of -the corporation charter governing dissolution. Young, Kapper, Tompkins and Davis, JJ., concur; Lazansky, P. J., concurs in result.