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BENCHMARK CAROLINA AGGREGATES, INC. v. MARTIN MARIETTA MATERIALS, INC.

No. COA96-327.

482 S.E.2d 27 (1997)

BENCHMARK CAROLINA AGGREGATES, INC., Plaintiff-Appellant, v. MARTIN MARIETTA MATERIALS, INC., Central Rock Company, And American Stone Company, Defendants-Appellees.

Court of Appeals of North Carolina.

March 18, 1997.

Attorney(s) appearing for the Case

Bugg & Wolf, P.A. by John E. Bugg and William J. Wolf, Durham, for plaintiff appellant.

Poyner & Spruill, L.L.P. by Cecil W. Harrison, Jr., Raleigh, for Martin Marietta Materials, Inc., and Central Rock Company, defendant appellees.

SMITH, Judge.

This case involves two companies (the principals), each of whom own a fifty-percent (50%) interest in another company. Because neither of the principals can muster a majority vote on a significant management decision involving the co-owned company, plaintiff argues N.C. Gen.Stat. § 55-14-30(2) (1990) compels judicial dissolution of the co-owned company. We disagree with plaintiff that § 55-14-30(2) compels dissolution. However, we do...

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