[DOWNLOAD] "Harry Horowitz v. United National Corporation" by Third District. District Court of Appeal of Florida # Book PDF Kindle ePub Free

eBook details

Title: Harry Horowitz v. United National Corporation
Author : Third District. District Court of Appeal of Florida
Release Date : January 23, 1975
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 68 KB

Description

This is an appeal by the plaintiff, Harry Horowitz, on behalf of Meridian 17 Corporation, from an adverse final judgment entered after a non-jury trial in an action for fraud, accounting, constructive trust, specific performance and damages against United Investors Corporation, United Meridian Corporation, Meridian Parking Corporation and U.S.I.F. Meridian Corporation, the defendants.1 The litigation commenced in 1968 when Horowitz filed a stockholder's derivative suit on behalf of Meridian 17 Corporation, of which he and United Investors Corporation each own 50 per cent of the stock. The action is based on an agreement confirmed by a letter dated August 27, 1964, that the building owned by Meridian 17 Corporation was conveyed to a new corporate subsidiary of United Investors Corporation. As consideration, Horowitz received in excess of $1,200,000 and was stricken as a guarantor and relieved of responsibility for commitments and debts in connection with the building. The letter provided that Meridian 17 Corporation would lease the building from United Meridian Corporation (the subsidiary newly organized to take title) on the basis of a sale and leaseback agreement, but no date was given for commencement of the lease. In 1967, Horowitz demanded that the lease-back agreement be effectuated. The defendants refused to comply and this litigation commenced in 1968. The building was sold by United to USIF Meridian Corporation in 1970. Following several years of procedural skirmishing and the filing of a third amended complaint, the cause came to trial in December, 1974.