MATTER OF MARIELLO v. SOVRAN GROUP, INC.


152 A.D.2d 1007 (1989)

In the Matter of Ronald C. Mariello, Respondent, v. Sovran Group, Inc., Appellant

Appellate Division of the Supreme Court of the State of New York, Fourth Department.

July 12, 1989


Order unanimously affirmed with costs.

Memorandum:

Special Term correctly held that the stock sale and repurchase provisions of the parties' shareholders' agreement, which were triggered by petitioner's termination from employment, do not, as a matter of law, bar petitioner's proceeding to dissolve the corporation pursuant to Business Corporation Law § 1104-a. Because the agreement does not explicitly provide that the stock sale and repurchase provisions...

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