Case Law Summaries

New York - Indemnification

Tulino v. Tulino, 2017 N.Y. App. Div. LEXIS 1572 (3/1/2017).  The New York appellate court ruled that where a 50% shareholder sued the other 50% shareholder for breach of fiduciary duties and the plaintiff voluntarily discontinued the suit without prejudice, the defendant was not entitled to indemnification under Sec. 723 of the corporation law as the defendant was not successful on the merits in defense of the action.

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