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MATTER OF TOSCA BRICK OVEN BREAD, INC.

243 A.D.2d 416 (1997)

665 N.Y.S.2d 252

In the Matter of the Dissolution of Tosca Brick Oven Bread, Inc. Reno Lubena, Respondent; Pritam Pal et al., Appellants

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

October 30, 1997

Business Corporation Law § 1118 (b) provides that if a shareholder elects to purchase the shares owned by the petitioner but is unable to agree with the petitioner upon the fair value of such shares, as here, the court, upon the application of the prospective purchaser, "may stay the proceedings * * * and determine the fair value of the petitioner's shares as of the day prior to the date on which such petition was filed, exclusive of any element of value arising from...

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