Sheehan v. Mondati

OTIS, Justice.

Appellant, John Mondati, is a 50% shareholder and president of Villa Maria, Inc., a Minnesota corporation. He appeals from an order granting involuntary dissolution of the company or in the alternative a buy-out of James Sheehan’s 50% interest at market value. We affirm.

The power of the courts to grant an involuntary dissolution of a corporation is governed by Minn.Stat. § 301.49 (1980), which states in part:

*922A corporation may be dissolved by involuntary proceedings in the discretion of the court when it is made to appear: * * * * * *(3) that the directors or those in control of…