Exit remedies for minority shareholders in close companies
Einde inhoudsopgave
Exit remedies for minority shareholders in close companies (IVOR nr. 82) 2011/3.4.4.3:3.4.4.3 Significance of alternative terms of relief besides dissolution
Exit remedies for minority shareholders in close companies (IVOR nr. 82) 2011/3.4.4.3
3.4.4.3 Significance of alternative terms of relief besides dissolution
Documentgegevens:
dr. Q. Wang, datum 02-05-2011
- Datum
02-05-2011
- Auteur
dr. Q. Wang
- JCDI
JCDI:ADS409670:1
- Vakgebied(en)
Ondernemingsrecht (V)
Toon alle voetnoten
Voetnoten
Voetnoten
Brenner v. Berkowitz, op.cit.
The late F. Hodge O'Neal and Robert B. Thompson, op.cit., current through the June 2005 update, s. 9.
Thompson, The Shareholder's Cause of Action for Oppression, 49 Bus. Law 699, 708 (1993). See also The late F. Hodge O'Neal and Robert B. Thompson, O'Neal and Thompson's Close Corporations and LLCs: Law and Practice, current through the June 2005 update, s. 9.29.
Deze functie is alleen te gebruiken als je bent ingelogd.
The development of the interpretation of oppression is intertwined with the development of alternative forms of relief. To be specific, the advent of alternative forms of relief has helped to liberalize and broaden the definition of oppressive conduct. Thanks to less harsh remedies, courts are more willing to intervene in oppressive conduct which traditionally would not have met the standard of dissolution, but now can be remedied by alternative relief. The threshold of identifying oppressive conduct has thus been lowered and the availability of this remedy has consequently increased.1 Nowadays, a dissolution order is an exception rather than a rule. As first witnessed in Britain,2 this remedy in the US has also "outgrown its dissolution origins and now is better described as a general remedy for shareholder dissention within a close corporation that only rarely results in the dissolution of a corporation.3