Defendant and Cross-Complainant Demilie Farise and Defendant Sirke Brothers, Inc.'s Motion to Stay Dissolution Proceedings is GRANTED. The underlying complaint is for involuntary dissolution of a corporation owned 50-50 by brothers. The Corporation owns a liquor store and several other rental properties. Demile Faries has filed a Cross-Complaint for Breach of Fiduciary Duty.
By this motion, defendant seeks relief based on Corporations Code § 2000(b), which provides: "If the purchasing parties (1) elect to purchase the shares owned by the moving parties, and (2) are unable to agree with the moving parties upon the fair value of those shares, and (3) give bond with sufficient security to pay the estimated reasonable expenses (including attorneys' fees) of the moving parties if those expenses are recoverable under subdivision (c), the court upon application of the purchasing parties, either in the pending action or in a proceeding initiated in the superior court of the proper county by t
Hearing Date
October 15, 2020
Category
Civil - Unlimited
Type
Misc Complaints - Other
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Defendant and Cross-Complainant Demilie Farise and Defendant Sirke Brothers, Inc.'s Motion to Stay Dissolution Proceedings is GRANTED. The underlying complaint is for involuntary dissolution of a corporation owned 50-50 by brothers. The Corporation owns a liquor store and several other rental properties. Demile Faries has filed a Cross-Complaint for Breach of Fiduciary Duty.
By this motion, defendant seeks relief based on Corporations Code § 2000(b), which provides: "If the purchasing parties (1) elect to purchase the shares owned by the moving parties, and (2) are unable to agree with the moving parties upon the fair value of those shares, and (3) give bond with sufficient security to pay the estimated reasonable expenses (including attorneys' fees) of the moving parties if those expenses are recoverable under subdivision (c), the court upon application of the purchasing parties, either in the pending action or in a proceeding initiated in the superior court of the proper county by t