[DOWNLOAD] "Matter Judicial Dissolution Kemp & Beatley" by Court of Appeals of New York * eBook PDF Kindle ePub Free
eBook details
- Title: Matter Judicial Dissolution Kemp & Beatley
- Author : Court of Appeals of New York
- Release Date : January 29, 1984
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 68 KB
Description
[64 N.Y.2d 63 Page 67] Opinion OF THE COURT When the majority shareholders of a close corporation award de facto dividends to all shareholders except a class of minority shareholders, such a policy may constitute oppressive actions and serve as a basis for an order made pursuant to section 1104-a of the Business Corporation Law dissolving the corporation. In the instant matter, there is sufficient evidence to support the lower courts' conclusion that the majority shareholders had altered a long-standing policy to distribute corporate earnings on the basis of stock ownership, as against petitioners only. Moreover, the courts did not abuse their discretion by concluding that dissolution was the only means by which petitioners could gain a fair return on their investment.
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