Court of Appeals of New York
IN RE: DISSOLUTION OF PENEPENT CORP., INC., 4 No. 61
The shares of a close corporation shareholder who petitioned for the dissolution of a close corporation under BCL 1104-a, but died prior to a determination of the fair value of the shares under BCL 1118, must be surrendered to the corporation at a price specified in the shareholder's agreement, even if such price is less than fair value.
Appellate Information
- Decided 05/01/2001
- Published 05/01/2001
Judges
Court
- Court of Appeals of New York