Goldfield Corp. v. General Host Corp.

Nunez, J. P.

Petitioner, the Goldfield Corporation (Goldfield) seeks, under section 619 of the Business Corporation Law, to annul the annual shareholders meeting of the corporate appellant General Host Corporation (Host) held on August 13, 1970 and to set aside the election of directors and other resolutions adopted at that meeting.

*126On July 10, 1970, Host had 2,610,336 shares of common stock outstanding of which petitioner was the beneficial owner of 437,700 shares or 16.7%. Petitioner’s shares had been pledged to secure certain notes to the Union Bank of Los Angeles; these notes were…