Gilman Paper Co. v. Gilman

*593The facts relating to the controversies here before us date back to 1967 when Charles Gilman, Sr. (Charles) died. During his lifetime Charles (and his father before him), had been the sole owner of the shares of stock in Gilman Paper Company (Paper). In 1948 he created an inter vivos trust which left control of the corporation in the hands of his sons Howard and Charles, Jr. (Chris), and the corporation’s then general counsel, I. Alfred Levy. Corporate control consisted of all the shares of voting stock. The corporation’s nonvoting preferred shares were left to Charles’ widow, Sylvia, and a…