Benchmark Carolina Aggregates, Inc. v. Martin Marietta Materials, Inc.

SMITH, Judge.

This case involves two companies (the principals), each of whom own a fifty-percent (50%) interest in another company. Because neither of the principals can muster a majority vote on a significant management decision involving the co-owned company, plaintiff argues N.C. Gen. Stat. § 55-14-30(2) (1990) compels judicial dissolution of the co-owned company. We disagree with plaintiff that § 55-14-30(2) compels dissolution. However, we do agree with plaintiff that material issues of fact exist which might prompt judicial dissolution. Accordingly, we reverse the trial court’s grant of…