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HOSPITALITY INNS v. SOUTH BURLINGTON R.I.

No. 87-524.

571 A.2d 40 (1989)

HOSPITALITY INNS, INC. and Lodging North, Inc. v. SOUTH BURLINGTON R.I., INC., Andrew Corologos, Thomas Dowe, Donald Dumont, Gloria Jones, Onalee Jones, William Jones, John Trono, Ralph R. Deslauriers, and Bolton Valley Corp.

Supreme Court of Vermont.

Motion for Reargument Denied January 4, 1990.

Attorney(s) appearing for the Case

Robert S. DiPalma of Paul, Frank & Collins, Inc., Burlington, for plaintiffs-appellees.

Thomas F. Heilmann and Janice A. Forgays of Thomas F. Heilmann, P.C., Burlington, for defendant-appellant South Burlington R.I.

Fred I. Parker and Alison J. Bell of Langrock Sperry Parker & Wool, Burlington, for defendants-appellants Deslauriers and Bolton Valley Corp.

Before PECK and MORSE, JJ., BARNEY, C.J. (Ret.), SPRINGER, District Judge (Ret.) and MARTIN, Superior Judge, Specially Assigned.

PECK, Justice.

Plaintiff obtained a superior court order specifically enforcing an agreement for the sale of a motel in South Burlington against the owner and another prospective purchaser. Defendants appeal because plaintiff failed to obtain the two-thirds shareholder approval as required by 11 V.S.A. § 2002 and plaintiff's sales agreement. We reverse and remand.

Defendant South Burlington R.I., Inc. (SBRI) is...

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