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IN RE VALUATION OF COMMON STOCK OF LIBBY, ETC.

406 A.2d 54 (1979)

In re VALUATION OF COMMON STOCK OF LIBBY, McNEILL & LIBBY.

Supreme Judicial Court of Maine.

August 16, 1979.

Attorney(s) appearing for the Case

Verrill & Dana by John A. Mitchell (orally), Andrew P. Geoghegan, Andrew M. Horton, Portland, for petitioner.

Thompson, Willard & McNaboe by Bruce M. Tompkins (orally), Richardson, Hildreth, Tyler & Troubh by William K. Tyler, Peter H. Jacobs, Portland, for dissenting stockholders.

Before McKUSICK, C. J., and POMEROY, WERNICK, ARCHIBALD, GODFREY and NICHOLS, JJ.

McKUSICK, Chief Justice.

For the first time since the enactment of the Maine Business Corporation Act, effective on January 1, 1972, the courts are in this case called upon to construe and apply the dissenting shareholder appraisal provisions of the Act, 13-A M.R.S.A. § 909 (1974).

In this proceeding, the Superior Court (Cumberland County) had the task of determining the "fair value" as of February 17, 1976, of...

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