Does an appellate ruling last week represent a change in the law concerning whether individual shareholders or the corporation or both can be compelled to purchase the shares of an oppressed minority stockholder? Find out in this week’s New York Business Divorce.
Continue Reading Who Pays When the Court Compels a Buy-Out?
Justice Richard Platkin’s decision last month in O’Connor v. Coccadotts, Inc., denying a dissolution petitioner’s preliminary injunction motion after the respondent elected to purchase the petitioner’s shares, focuses attention on the interim remedies available to ensure that the eventual fair-value award will be paid. Learn more in this week’s New York Business Divorce.
Continue Reading Post-Buyout Election Interim Remedies: Bond, Injunction, or Both?
When the company or majority shareholder elects to purchase a dissolution petitioner’s shares for fair value, how can the selling shareholder be sure the purchaser will be able to pay the eventual award? The statute offers relief in the form of a bonding requirement, as illustrated in a recent case decided by Nassau County Commercial Division Justice Stephen A. Bucaria. Get the story in this week’s New York Business Divorce.
Continue Reading Bonding a Fair Value Award: When Can the Court Require It?