Glenn v. Hoteltron Systems, Inc.
74 N.Y.2d 386, 547 N.Y.S.2d 816, 547 N.E.2d 71 (1989)
Nature of the Case
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Facts
The dispute is between Jacob Schachter (D) and Herbert Kulik (P). The founders of Ketek Electric Corp. Schachter and Kulik each own 50% of the corporation's shares as the corporation's only officers. The Appellate Division of a prior appeal found Schachter liable for diverting assets and opportunities to Hoteltron Systems, Inc., a corporation wholly owned by D. Following the trial on damages, the Court concluded that Hoteltron had earned profits of $362,242,84 from D's usurpation of Ketek assets and opportunities. The Court ordered that the entire award, after payment of attorneys' fees, should be paid to Kulik.
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