3.4.4.2.2 Court fashioned remedies

As mentioned, courts are not confined to statutory remedies. They have a wide array of equitable remedies available to them even though in some statutes the only remedy laid down is dissolution. So when a statutory violation takes place, courts have the right to fashion a remedy that best fits this particular situation.1 "Such equitable remedies are valuable because they allow relief to be fashioned directly to redress the statutory violations."2 Some of the equitable remedies listed in O'Neal's book are: Ordering that funds alleged to have been misappropriated be accounted for or ordering access to corporate records, requiring declaration of dividends, rescinding a corporate act that is unfair to the minority, directing or prohibiting any act of the corporation or the shareholders, directors, officers or other persons party to the action, and so on.3

Moreover, more money can be recovered in an oppression suit than in an appraisal case. In evaluating claims involving violations of fiduciary duties, the trial court may include in its relief any damages sustained by the shareholders.4 This issue will be elaborated upon in 3.4.5.