Exit remedies for minority shareholders in close companies (IVOR nr. 82) 2011/3.4.1.2:3.4.1.2 The oppressive conduct must be serious enough for dissolution

Exit remedies for minority shareholders in close companies (IVOR nr. 82) 2011/3.4.1.2

3.4.1.2 The oppressive conduct must be serious enough for dissolution

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Judicial dissolution is viewed as a drastic remedy by the court, and is therefore infrequently granted. The oppressive conduct must have been "drastic" or "severe" enough to justify dissolution.1 In this context, it is hard for shareholders who seek protection under the dissolution article to get relief. To complete the picture of minority shareholder protection, more realistic and satisfactory forms of relief, altematives to dissolution, must be developed.

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