Opinion
July 6, 1961
Order entered on March 9, 1961 granting an appraiser an allowance in a consolidated proceeding brought under section 21 of the Stock Corporation Law, unanimously modified, on the law, on the facts, and in the exercise of discretion, to the extent of reducing such allowance from $60,000 to $40,000, and the order is otherwise affirmed in all respects, with $20 costs and disbursements to appellant Hilton Hotels Corporation against respondent appraiser. On the record, and considering all of the relevant factors, the award allowed is grossly excessive and any award in excess of $40,000 is not warranted. Order entered on March 9, 1961, granting certain allowances for petitioners-respondents in a consolidated proceeding brought under section 21 of the Stock Corporation Law, unanimously modified, on the law, on the facts, and in the exercise of discretion, to the extent of reducing the allowance for the witness Weissberg from $10,000 to $5,000, the witness Secoles from $6,000 to $3,000, the witness Janin from $7,500 to $4,000, and eliminating entirely the allowance for the witness Zimmerman, and the order is otherwise affirmed in all respects, with $20 costs and disbursements to appellant Hilton Hotels Corporation against respondents. On the record, and considering all of the relevant factors, the awards allowed for the witnesses Weissberg, Secoles and Janin were grossly excessive, and any award in excess of those now fixed are not warranted. With respect to the witness Zimmerman it is concluded that there was no necessity for his testimony and that it was of no value in the proceeding and, consequently, no award was warranted.
Concur — Breitel, J.P., Rabin, Valente, McNally and Stevens, JJ.