Four Seasons Equipment, Inc. v. White (In Re White)

MEMORANDUM OPINION

MARVIN ISGUR, Bankruptcy Judge.

For the reasons set forth below, the Court holds that:

1. Four Seasons Equipment, Inc. (“Four Seasons”) did not properly exercise its right to purchase Richard White’s (“White”) shares. Consequently, White remains an 8% shareholder in Four Seasons.

2. White was an at-will employee of Four Seasons who was legally terminated. The termination was not for any improper purpose.

3. George S. Nevins (“Nevins”) improperly received interest free loans from Four Seasons and must compensate Four Seasons for its loss on the loans.

4. Four Seasons’ transactions…