Casey v. Bonded Collections of St. Cloud, Inc.

OPINION

NIERENGARTEN, Judge.

In a supervised voluntary dissolution proceeding, the trial court ordered Bonded Collections of St. Cloud, Inc. (Bonded) to buyout Robert Verkuilen, the corporation’s minority shareholder. Verkuilen appeals on the ground that the trial court improperly calculated the buy-out price that Bonded is to pay Verkuilen for his one-fourth interest in the corporation. Bonded filed a notice of review, arguing that the statutes do not authorize the trial court to order a mandatory buy-out in a voluntary dissolution proceeding. We reverse and remand.

FACTS

Bonded was incorporated…