In re the Arbitration between Lane & Abel-Bey

OPINION OF THE COURT

Memorandum.

The order of the Appellate Division should be affirmed, with costs.

The individual parties to this litigation, being the holders of all of the outstanding shares of the corporate respondent, executed a stockholders’ agreement imposing restrictions on the disposition of their shares of corporate stock and making provisions with respect to the election of directors and the management of the corporation and as to the compensation to be paid to each of the shareholders as corporate employees. The agreement recited that thé corporation was a party, but it was never…