Home/New York Court of Appeals/New Castle Siding Co. v. Wolfson

New Castle Siding Co. v. Wolfson

470 N.E.2d 868, 63 N.Y.2d 782, 481 N.Y.S.2d 70, 1984 N.Y. LEXIS 4616
CourtNew York Court of Appeals
DecidedOctober 9, 1984
StatusPublished
Cited by26 cases

This text of 470 N.E.2d 868 (New Castle Siding Co. v. Wolfson) is published on Counsel Stack Legal Research, covering New York Court of Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
New Castle Siding Co. v. Wolfson, 470 N.E.2d 868, 63 N.Y.2d 782, 481 N.Y.S.2d 70, 1984 N.Y. LEXIS 4616 (N.Y. 1984).

Opinion

[784]*784OPINION OF THE COURT

Memorandum.

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

Appellant, whose cross claim is asserted in his individual capacity, seeks to recover for the delinquent taxes and penalties he has paid on behalf of the corporation and for loans made to the corporation above and beyond his initial investment. The former were made in appellant’s capacity as an officer or employee of the corporation (see US Code, tit 26, § 6671, subd [b]; § 6672; Tax Law, §§ 1085, 1131, 1134) and would be the result of respondent’s negligence, if any, in discharging his obligations to the corporation for which he would not be responsible to a stockholder (cf. White v Guarente, 43 NY2d 356). In making the loans, appellant acted as a general creditor of the corporation, to whom it is well settled that no duty is owed by an accountant (see Ultramares Corp. v Touche, 255 NY 170). Thus, in neither case can appellant, as an individual shareholder, have recovery against respondent.

Chief Judge Cooke and Judges Jasen, Jones, Meyer, Simons and Kaye concur; Judge Wachtler taking no part.

Order affirmed, with costs, in a memorandum.

Free access — add to your briefcase to read the full text and ask questions with AI

Related

Galeas v. Socarras
2025 NY Slip Op 04236 (Appellate Division of the Supreme Court of New York, 2025)
Diner v. Diner
2024 NY Slip Op 51386(U) (New York Supreme Court, Richmond County, 2024)
Cohen v. CASSM Realty Corp.
54 Misc. 3d 256 (New York Supreme Court, 2016)
O'Connor v. Metro Management Development, Inc.
130 A.D.3d 698 (Appellate Division of the Supreme Court of New York, 2015)
Nature's Plus Nordic A/S v. Natural Organics, Inc.
980 F. Supp. 2d 400 (E.D. New York, 2013)
MatlinPatterson ATA Holdings LLC v. Federal Express Corp.
87 A.D.3d 836 (Appellate Division of the Supreme Court of New York, 2011)
Baccash v. Sayegh
53 A.D.3d 636 (Appellate Division of the Supreme Court of New York, 2008)
Henneberry v. Sumitomo Corp. of America
415 F. Supp. 2d 423 (S.D. New York, 2006)
Rand v. Birbrower, Montalbano, Condon & Frank, P.C.
149 F. Supp. 2d 96 (S.D. New York, 2001)
Gmerek v. Scrivner, Inc.
221 A.D.2d 991 (Appellate Division of the Supreme Court of New York, 1995)
Spira v. Nick
876 F. Supp. 553 (S.D. New York, 1995)
Ackerman v. Price Waterhouse
644 N.E.2d 1009 (New York Court of Appeals, 1994)
Powers v. Ostreicher
824 F. Supp. 372 (S.D. New York, 1993)
Country World, Inc. v. Imperial Frozen Foods Co.
186 A.D.2d 781 (Appellate Division of the Supreme Court of New York, 1992)
HH Holdings, Inc. v. PaineWebber Inc.
180 A.D.2d 419 (Appellate Division of the Supreme Court of New York, 1992)
Ruszkowski v. Sears, Roebuck & Co.
151 Misc. 2d 25 (New York Supreme Court, 1991)
Mirasola v. Gilman
163 A.D.2d 371 (Appellate Division of the Supreme Court of New York, 1990)
Abraham Lincoln Hotel Corp. v. Metropolitan Edison
4 Pa. D. & C.4th 85 (Berks County Court of Common Pleas, 1988)
Vereins-Und Westbank, AG v. Carter
691 F. Supp. 704 (S.D. New York, 1988)
Baker v. Latham Sparrowbush Associates
129 A.D.2d 667 (Appellate Division of the Supreme Court of New York, 1987)

Cite This Page — Counsel Stack

Bluebook (online)
470 N.E.2d 868, 63 N.Y.2d 782, 481 N.Y.S.2d 70, 1984 N.Y. LEXIS 4616, Counsel Stack Legal Research, https://law.counselstack.com/opinion/new-castle-siding-co-v-wolfson-ny-1984.