In re Hammerman

Fein, J. P., and Sullivan, J., dissent in part in a memorandum by Sullivan, J., as follows:

While we agree with our colleagues that the matter should be remanded for a hearing to determine the books, records and documentary data to which the stockholder is entitled, we would not, as they would, remand for a hearing on the issue of good faith. It has been repeatedly held that a stockholder cannot be deprived of the right to inspect and examine corporate books and records for a proper purpose unless the corporation can prove the stockholder’s bad faith. (Matter of S & S Realty Corp. v Kleer-Vu…