(Download) "Matter Election Directors William Faehndrich" by Court of Appeals of New York * eBook PDF Kindle ePub Free

eBook details

Title: Matter Election Directors William Faehndrich
Author : Court of Appeals of New York
Release Date : January 08, 1957
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 65 KB

Description

[2 N.Y.2d 468 Page 470] This proceeding, brought pursuant to section 25 of the General Corporation Law, presents a regrettable conflict between
an elderly father, William Faehndrich, and his 47-year-old son, Rudolph. Some 45 years ago, the father founded a business
of manufacturing, importing and marketing cheeses, which he conducted under his own name. In 1925, he caused the business
to be incorporated, with a capitalization of $5,000, represented by 50 shares of $100 par value common stock,1 and, in
1929, the authorized capitalization was increased from $5,000 to $100,000 and the authorized number of shares from 50 to 1,000.
No new shares were, however, issued at that time.