Fed. Sec. L. Rep. P 92,964 Vernitron Corporation and American Medical Instrument Corporation v. Paul Benjamin

TYLER, District Judge:

Defendant-appellant (“Benjamin”) appeals from an order of the District Court for the Southern District of New York granting a preliminary injunction against his continued prosecution of an action in the Supreme Court of New York, New York County, against plaintiff-appellees (“Vernitron”) and their attorneys (in their capacity as escrow agent).

In December, 1967, Benjamin executed a written contract with Vernitron for the sale of all the assets of his wholly-owned corporation, American Medical Instrument Corporation (“Amico”). The original contract provided that Benjamin…