Appellate Division of the Supreme Court of the State of New York November 17, 1986 (Daniele Laundries, Inc. v. Jaymont Linen Supply, Inc.)

The appellant lacked standing to institute this action since it is in the nature of a shareholder’s derivative action which belongs to the estate of the bankrupt debtor corporation. Such a property right vests in the bankruptcy trustee (see, Hanover Ins. Co. v Tyco Indus.