In re Dissolution of C & M Plastics, Inc.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Yesawich Jr., J.
Terry L. Matthews and a former business employee incorporated respondent, C&M Plastics, Inc. (hereinafter C & M), in 1982, but because of potential liability related to his prior employment Matthews allegedly requested that no stock be issued to him at that time. Thereafter, in 1983, Matthews and his wife filed a petition in Bankruptcy Court but failed to disclose the alleged ownership interest in C&M. Shortly after being discharged in bankruptcy in 1987, Matthews requested of C & M that he be issued stock representing his asserted 50% interest in the…
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