Rey v. Pan American Cash & Carry Corp.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Eiber, J.
A nonpetitioning shareholder, when confronted with a petition for corporate dissolution premised upon Business Corporation Law § 1104-a, may elect to purchase the shares owned by the party seeking dissolution and thereby preserve the corporate existence (see, Business Corporation Law § 1118). The instant appeal raises questions concerning the revocability of an election to exercise the statutory "buy-out” alternative to involuntary dissolution.
The salient facts are substantially uncontroverted. The dispute centers around Pan American Cash & Carry Corp., a domestic…
2Cases cited11 opinions
- Simonson v. International BankNew York Court of Appeals · 1964
- Shielcrawt v. MoffettNew York Court of Appeals · 1945
- Becker v. Huss Co.New York Court of Appeals · 1978
- In re the Dissolution of T. J. Ronan Paint Corp.Appellate Division of the Supreme Court of the State of New York · 1984
- Patricia L. v. Steven L.Appellate Division of the Supreme Court of the State of New York · 1986
6 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Elizabeth v. Bogosian v. Woloohojian Realty Corp.Court of Appeals for the First Circuit · 1991
- In re the Arbitration between Hynson & American Motors Sales Corp.Appellate Division of the Supreme Court of the State of New York · 1990
- Papillo v. Pockets, Inc.Court of Special Appeals of Maryland · 1997
- Smith v. RussoAppellate Division of the Supreme Court of the State of New York · 1996
- Bogosian v. WoloohojianDistrict Court, D. Rhode Island · 1990
3 more not listed; retrieve them via the Exa API.