Legal Opinion
In Re the Judicial Dissolution of Kemp & Beatley, Inc.
New York Court of Appeals
Decided November 29, 1984PublishedCited by 123 opinions
1Opinion of the Court
OPINION OF THE COURT
Chief Judge Cooke.
When the majority shareholders of a close corporation award de facto dividends to all shareholders except a class of minority shareholders, such a policy may constitute “oppressive actions” and serve as a basis for an order made pursuant to section 1104-a of the Business Corporation Law dissolving the corporation. In the instant matter, there is sufficient evidence to support the lower courts’ conclusion that the majority shareholders had altered a long-standing policy to distribute corporate earnings on the basis of stock ownership, as against…
2Cases cited13 opinions
- Masinter v. Webco Co.West Virginia Supreme Court · 1980
- Goncalves v. Regent International Hotels, Ltd.New York Court of Appeals · 1983
- Leibert v. ClappNew York Court of Appeals · 1963
- Topper v. Park Sheraton Pharmacy, Inc.New York Supreme Court · 1980
- Brady v. . McCoskerNew York Court of Appeals · 1848
8 more not listed; retrieve them via the Exa API.
3Cited by123 opinions
- Rusyniak v. GensiniDistrict Court, N.D. New York · 2009
- Landstrom v. ShaverSouth Dakota Supreme Court · 1997
- Blake v. Blake Agency, Inc.Appellate Division of the Supreme Court of the State of New York · 1985
- Metropolitan Life Insurance v. RJR Nabisco, Inc.District Court, S.D. New York · 1989
- John R. Baur v. Baur Farms, Inc. and Robert F. BaurSupreme Court of Iowa · 2013
118 more not listed; retrieve them via the Exa API.