IN RE SCHUMACHER

No. 11242.

389 So.2d 881 (1980)

In re Carl J. SCHUMACHER, Jr.

Court of Appeal of Louisiana, Fourth Circuit.

October 9, 1980.


Attorney(s) appearing for the Case

Schumacher Law Corp., Ltd., Carl J. Schumacher, Jr., New Orleans, Philip Handelman, New York City, for plaintiff-appellee.

Stone, Pigman, Walther, Wittmann & Hutchinson, Phillip A. Wittmann and Stephen G. Bullock, New Orleans, for defendants-appellants.

Before CHEHARDY, BARRY and SARTAIN, JJ.


BARRY, Judge.

Appellants and appellee formed a law corporation on April 27, 1976. A shareholders agreement was executed providing that upon termination of employment a shareholder was obligated to sell and the law firm obligated to buy, at book value, all stock owned by the terminated shareholder. Book value of the shares would be determined by the firm's accountants and its determination would be binding on all parties. Any dispute arising out of the shareholders...

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