Livingston v. Falk — 245 N.Y. 632

Majority

p. 632

Gerald M. Livingston et al., as Executors of Crawford Livingston, Deceased, Appellants, v. Herbert V. Falk, Respondent, and Charles R. Dalgleish, Appellant.

(Argued June 15, 1927;

decided July 20, 1927.)

Headnote

Contribution — judgment against three meinbers of a stockholders’ committee in action to recover overpayment for their services — controversy as to amount to be paid by each.

Livingston v. Falk, 219 App. Div. 717 , affirmed.

Appeal, by permission, from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered January 28, 1927, in favor of defendant, respondent, upon the submission of a controversy under sections 546-548 of the Civil Practice Act. Plaintiffs’ testator and the two defendants were members of a stockholders’ committee which took possession of and reorganized a certain corporation, paying themselves for their services by awarding to themselves various amounts of the preferred and common stock of the new company. Thereafter the new company, alleging that they had been overpaid, brought an action against them and recovered judgment in a substantial amount. The controversy was as to the amounts they should severally contribute towards payment of this judgment.

John Preston Phillips for plaintiffs, appellants.

Harold B. Elgar for defendant, appellant.

William L. Wemple for respondent.

p. 633

Judgment affirmed, with costs; no opinion.

Concur: Cardozo, Ch. J., Pound, Crane, Andrews, Lehman, Kellogg and O’Brien, JJ.