In re the Arbitration between Denihan & Denihan

OPINION OF THE COURT

Alexander, J.

The individual parties hereto are shareholders in the corporate defendant-respondent 3 Mitchell Place, Inc. (Mitchell Place), which owns the Beekman Tower Hotel. The petitioner Michael G. Denihan, the minority stockholder owns 25% of the stock of Mitchell Place, and the remaining 75% is owned by the individual defendants-respondents.

*70In 1972, petitioner sought arbitration of his claims that the individual respondents breached the shareholders’ agreement by taking large sums of money from Mitchell Place and removing him as a director. Respondents resisted…