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McMINN v. MBF OPERATING ACQUISITION CORP.

No. 29,725.

164 P.3d 41 (2007)

2007-NMSC-040

Rory A. McMINN, Plaintiff-Petitioner, v. MBF OPERATING ACQUISITION CORPORATION, a New Mexico corporation, Frank L. Sturges, and Mark W. Daniels, Defendants, and MBF Operating, Inc., Defendant-Respondent.

Supreme Court of New Mexico.

June 27, 2007.

Attorney(s) appearing for the Case

Sanders, Bruin, Coll & Worley, P.A., Clay H. Paulos, Ian D. McKelvy, Roswell, NM, for Petitioner.

Tucker Law Firm, P.C., Steven L. Tucker, Santa Fe, NM, for Respondent.

OPINION

BOSSON, Justice.

{1} Plaintiff Rory A. McMinn ("McMinn") was a non-controlling shareholder in a closely-held corporation whose interest in the corporation was eliminated by the controlling shareholders through the use of a "freeze out" merger transaction. That transaction involved two steps. First, the controlling shareholders formed a "shell" corporation, an entity set up for the sole purpose of merging with the existing corporation...

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