Papillo v. Pockets, Inc.

HOLLANDER, Judge.

Gregory M. Papillo, appellant, and Albert E. Crandall, appellee, have been engaged in a protracted dispute concerning two close corporations in which each party owned a fifty percent interest. In 1993, after appellant sought dissolution of both corporations, appellee elected to avoid dissolution by pm-chasing appellant’s stock, pursuant to Md.Code (1975, 1993 Repl.Vol.), § 4-603 of the Corporations and Associations Article (“C.A.”). Several years later, the trial court essentially determined that appellee’s election was revocable at will. Thereafter, appellant noted his…