In re Dissolution of Fulton-Washington Corp.

These are proceedings brought to dissolve two corporations pursuant to article 9 of the General Corporation Law. The petitioners Benjamin Burkin and his son Leonard H. Burkin constitute a majority of the directors of both corporations and the holders of a majority of the stock issued and outstanding thereof. Benjamin Burkin and Joseph Katz are the principals in each of these corporations. Through corporations organized by them they buy vacant land, erect one-story buildings known as “ taxpayers ” and, after a time sell the properties. The proceedings now before the court involve two such…