Commercial Division Opts for Money Damages in Lieu of Dissolution in Oppressed Shareholder Suit
By EsqSocial Corporation 29/10/20
New York Business Corporation Law § 1104-a empowers a holder of 20% or more of a closely held corporation’s stock to petition for that corporation’s dissolution on the grounds that, inter alia, the controlling shareholders have committed “illegal, fraudulent or oppressive actions toward the complaining shareholders.”...
By: Patterson Belknap Webb & Tyler LLP