Pohs v. Textile Realty Corp.

Order denying temporary injunction to restrain the amendment of defendant’s certificate of incorporation, in an action for a declaratory judgment and a permanent injunction, unanimously affirmed, with $20 costs and disbursements to defendant-respondent. At inception, the liquidation of the *698defendant salvage corporation was contemplated, but not mandated, both by the Burchill Act (Real Property Law, §§ 119-123) and by the court-approved plan under which the corporation was organized. Thus, defendant’s certificate of incorporation restricted its corporate activities to the operation of the…