Engelhardt v. Fessia

Motion for injunction pendente lite. Plaintiffs entered into an agreement with defendants whereby plaintiffs were to buy and defendant Fessia was to sell all of the outstanding stock of three bus companies which were engaged in inter- and intra-State transportation.

It was necessary to get approval from the New York Public Service Commission and the Interstate Commerce Commission. The consideration for said sale was $500,000. In the event no approval was obtained by a stated time, the deposit was to be returned and the contract cancelled. Originally this deal was to close on December 31, 1960…