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Matter of Kurins v. Silverseal Corp., 2008 NY Slip Op 33328(U)

Posted in BCL 1104-a, New York, Summary Judgment, Valuation Date

In a special proceeding for dissolution under BCL 1104-a and a subsequent election to purchase Petitioner-minority owner’s shares, and on a joint application for partial summary judgment on the issue of the proper valuation date, the Supreme Court, New York County, Cahn, J. granted Petitioner partial summary judgment, holding that BCL section 1118 "is clear that the relevant date for determining the valuation of Petitioner’s shares is the day prior to his filing the Petition" as opposed to the date prior to Petitioner’s earlier filing of a demand for arbitration.