Exit remedies for minority shareholders in close companies (IVOR nr. 82) 2011/3.4.4.2.1:3.4.4.2.1 Remedies provided by statutes

Exit remedies for minority shareholders in close companies (IVOR nr. 82) 2011/3.4.4.2.1

3.4.4.2.1 Remedies provided by statutes

Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.

In some statutes, such as the California and North Dakota corporate statutes, there are no expressly mentioned forms of relief.1 The statues entrust a court to provide any equitable relief it deems proper,2 while in many other statutes, a nonexclusive list is given of what the relief may be.3

Remedies specifically mentioned by statutes include the following:4

A.

a buyout

B.

appointment of a provisional director or a custodian,

C.

cancelling or altering any provision of the articles of incorporation or the bylaws.

D.

cancelling, altering, or enjoining any resolution or other act of the corporation,

E.

directing or prohibiting any act of the corporation or of the shareholders, directors, officers or other persons party to the action,

F.

providing for the sale of all the property and franchise of the corporation to a single purchase.

Despite the availability of these alternatives, the court can still order a dissolution if appropriate.

Deze functie is alleen te gebruiken als je bent ingelogd.