For Your Data Charland V. Province Stance Golf Game Club, Inc. Illustration Brief

Charland v. Country View Golf Club, Inc. case brief summary
588 A.2d 609

CASE SYNOPSIS

Plaintiff appealed an social club from the Superior Court Providence County (Rhode Island) inwards which the courtroom entered judgment on plaintiff's electrical load to dissolve the enterprise nether R.I. Gen. Laws §§ 7-1.1-90 (Reenactment 1985) discounting plaintiff's shares because of their minority condition in addition to lack of marketability.

CASE FACTS
Plaintiff minority shareholder brought conform against accused enterprise nether R.I. Gen. Laws § 7-1.1-90 (Reenactment 1985) to dissolve accused corporation. Defendant enterprise moved nether R.I. Gen. Laws § 7-1.1-90.1 to purchase plaintiff's shares.

PROCEDURAL HISTORY
The lower courtroom entered a judgment discounting plaintiff's shares .Plaintiff appealed.

DISCUSSION

The supreme courtroom reversed the lower court's judgment, asset that plaintiff's shares should non convey been discounted based on its minority condition or lack of marketability.
The supreme courtroom held that minority shareholders should non have less than fair marketplace value for their shares if, instead of fighting the dissolution action, the bulk decides to seek appraisal of minority shares inwards social club to purchase out the minority.
The courtroom farther held that a lack of marketability discount was inapposite when a enterprise elected to purchase out a shareholder that filed for dissolution of a corporation.

CONCLUSION
The supreme courtroom reversed the lower court's judgment, asset that plaintiff was entitled to fair marketplace value of his shares in addition to no discount should convey been given to the shares because of their minority condition in addition to lack of marketability.

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