TOPPER v. PARK SHERATON


107 Misc.2d 25 (1980)

In the Matter of Myron F. Topper et al., Petitioners, v. Park Sheraton Pharmacy, Inc., Respondent.

Supreme Court, Special Term, New York County.

October 24, 1980


Attorney(s) appearing for the Case

Burns, Jackson, Miller, Summit & Jacoby for petitioners. Willkie, Farr & Gallagher for respondent. Robert Abrams, Attorney-General, for New York State Tax Commission.


NORMAN C. RYP, J.

A. ISSUE

What "oppressive actions" by controlling corporate shareholders justify involuntary judicial dissolution or "buy out" purchase of 20% or more minority shares under newly enacted sections 1104-a, 1111 (subd [b], par [3]) and 1118 (subds [a], [b]) of the Business Corporation Law (L 1979, ch 217, §§ 1-3, eff June 11, 1979)?

This legislative application of corporate minority rights summons court expression...

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