Low v. Van Nostrand

Appellate Division of the Supreme Court of New York

Low v. Van Nostrand

25 A.D.2d 846, 270 N.Y.S.2d 111, 1966 N.Y. App. Div. LEXIS 4114

CourtAppellate Division of the Supreme Court of the State of New York

DecidedMay 24, 1966

StatusPublished

This text of 25 A.D.2d 846 (Low v. Van Nostrand) is published on Counsel Stack Legal Research, covering Appellate Division of the Supreme Court of the State of New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Low v. Van Nostrand, 25 A.D.2d 846, 270 N.Y.S.2d 111, 1966 N.Y. App. Div. LEXIS 4114 (N.Y. Ct. App. 1966).

Pincite

Opinion

Order, entered March 10, 1966, unanimously modified, on the law, on the facts, and in the exercise of discretion, to fix the sum of $3,000 as the amount awarded to Bennett Frankel, Esq., for legal fees and disbursements to be paid by Chesebrough-Pond’s, Inc., and otherwise affirmed, with $30 costs and disbursement to appellant. In light of the relevant factors to be considered in fixing reasonable compensation to successful counsel in a stockholder’s derivative action (including benefit to the corporation, time justifiably and reasonably spent by counsel, his standing and reputation at the Bar, and his reasonably incurred expenditures, see Garfield v. Equitable Life Assur. Soc. (24 A D 2d 74); Marine Midland Trust Co. v. Forty Wall St. Corp. (13 A D 2d 118, affd. 11 N Y 2d 679); Ripley v. International Rys. of Cent. America (16 A D 2d 260, affd. 12 N Y 2d 814), the allowance fixed at Special Term was inadequate; and the record suggests and supports the allowance fixed as aforesaid.

Concur — Breitel, J. P., MeNally, Stevens and Eager, JJ.

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Order, entered March 10, 1966, unanimously modified, on the law, on the facts, and in the exercise of discretion, to fix the sum of $3,000 as the amount awarded to Bennett Frankel, Esq., for legal fees and disbursements to be paid by Chesebrough-Pond’s, Inc., and otherwise affirmed, with $30 costs and disbursement to appellant. In light of the relevant factors to be considered in fixing reasonable compensation to successful counsel in a stockholder’s derivative action (including benefit to the corporation, time justifiably and reasonably spent by counsel, his standing and reputation at the Bar, and his reasonably incurred expenditures, see Garfield v. Equitable Life Assur. Soc. (24 A D 2d 74); Marine Midland Trust Co. v. Forty Wall St. Corp. (13 A D 2d 118, affd. 11 N Y 2d 679); Ripley v. International Rys. of Cent. America (16 A D 2d 260, affd. 12 N Y 2d 814), the allowance fixed at Special Term was inadequate; and the record suggests and supports the allowance fixed as aforesaid.

Concur — Breitel, J. P., MeNally, Stevens and Eager, JJ.

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Bluebook (online)

25 A.D.2d 846, 270 N.Y.S.2d 111, 1966 N.Y. App. Div. LEXIS 4114, Counsel Stack Legal Research, https://law.counselstack.com/opinion/low-v-van-nostrand-nyappdiv-1966.