Cohen v. Sterling Nursing Home, Inc.

Plaintiffs, minority shareholders in Sterling Nursing Home, Inc., initially brought this action in 1969 to dissolve the corporation and distribute its assets. A guardian ad litem was appointed in the proceedings to represent the interests of Eli Cohen, son plaintiff Joseph D. Cohen, and grandson of defendant Bernard Meyers, the majority shareholder. In 1971, a consent decree was entered in the case wherein the parties stipulated to a certain resolution of the controversy. The decree further recited that the court retained jurisdiction as to certain matters, including a determination of…