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BAILEY BRAKE FARMS, INC. v. TROUT

No. 2011-CA-00610-SCT.

BAILEY BRAKE FARMS, INC., v. GEORGE CALVIN TROUT AND RON NASSAR.

Supreme Court of Mississippi.

February 28, 2013.

Attorney(s) appearing for the Case

JAK McGEE SMITH GREGORY M. HUNSUCKER J. RHEA TANNEHILL, JR. , Attorneys for Appellant.

GRADY F. TOLLISON, JR. CAMERON MORGAN ABEL THOMAS ROY TROUT ROGER H. McMILLIN, JR. , Attorneys for Appellees.

BEFORE WALLER, C.J., LAMAR AND KITCHENS, JJ.

KITCHENS, JUSTICE, FOR THE COURT:

¶1. The plaintiffs, two shareholders of a closely held corporation, attempted to tender their shares to the corporation pursuant to a buy-sell agreement. Dissatisfied with the corporation's offer to purchase, the two shareholders sought relief in the Lafayette County Chancery Court, and the court submitted the matter to binding arbitration as required by the contract. However, the chancellor rejected the arbitrators' valuations...

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