Bontempo v. Lare

Under the Maryland General Corporation Law,1 a minority shareholder of a closely held corporation who has been “oppressed” by those who control the corporation may ask a court of equity to dissolve the corporation. Many courts have measured oppression by looking to the “reasonable expectations” of minority shareholders at the time they join the venture. The Court of Special Appeals is one of those courts,2 and now by virtue of this decision, so are we. Many courts in other jurisdictions — and the Court of Special Appeals, as well — have held that a court of equity may employ other equitable…