Iwasaki v. Iwasaki Bros., Inc.

Plaintiffs brought this suit under ORS 57.595 1 as one-third owners of the corporate defendant, seeking dissolution of the corporation for allegedly illegal and oppressive acts and misapplication of corporate assets by defendant’s directors. After the close of plaintiffs’ case, the trial court granted defendant’s motion for dismissal with prejudice, and plaintiffs appeal. We review de novo, Law v. Kemp, 276 Or 581, 586, 556 P2d 109 (1976), and affirm.

The business involved here was begun in 1946 and was incorporated in 1954. Ownership was and still is divided equally among three brothers,…