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ELY, INC. v. WILEY

No. 96-1725.

587 N.W.2d 465 (1998)

ELY, INC. f/k/a Microfuel Corporation, Appellant, v. Allen C. WILEY, Appellee.

Supreme Court of Iowa.

December 23, 1998.

Attorney(s) appearing for the Case

Stephen J. Holtman, Richard G. Hileman, Jr., and Leonard T. Strand of Simmons, Perrine, Albright & Ellwood, PLC, Cedar Rapids, for appellant.

Tom Riley and Mark E. Liabo of Tom Riley Law Firm, P.L.C., Cedar Rapids, for appellee.

Considered by HARRIS, P.J., and CARTER, LAVORATO, NEUMAN, and SNELL, JJ.

CARTER, Justice.

This appeal is taken in a statutory valuation proceeding relating to the stock of appellee, Allen C. Wiley, in the appellant-corporation, Ely, Inc. f/k/a Microfuel Corporation (Microfuel). The transaction that gave rise to this dispute was the sale of substantially all of the property of the corporation in other than the usual course of business to Fuller Corporation. Wiley dissented from that sale pursuant to Iowa Code section 490.1302 (1993).

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