Schaub v. Kortgard

OPINION

FORSBERG, Judge.

This is an appeal from an order directing a buy-out of appellant’s shares in a closely-held corporation. The trial court directed a verdict against appellant on her claim of breach of fiduciary duty, and appointed an independent appraiser to appraise the value of her interest. We affirm and remand in part.

FACTS

Appellant Marian Sehaub and respondent Rosemary Kortgard are sole shareholders in a closely-held corporation, The Gelateria, Inc., which operates a store selling Italian-style ice cream. Following initial planning and discussions in the fall of 1983, each paid in…