Eisenberg v. Central Zone Property Corp.

The plan evolved was designed to accomplish the perfectly proper corporate purpose of keeping-taxes at a minimum, upon a possible future sale of the corporation’s properties, and it may not be denied that the consummation of the plan might well have resulted in a gain to all concerned, corporation and stockholders alike. But that does not mean that the corporation is in a position to insist that plaintiff — a holder of five shares of stock out of some 21,000 shares outstanding — either agree to the plan or, objecting to it, seek an appraisal pursuant to sections 20 and 21 of the Stock…