The recent Oregon Court of Appeals case, Marker v. Marker, is a fine example of a case that could have had a different result with proper planning. The facts are simple and common: A father and son organized a trucking company in 1982. Father owned 52 percent of the shares and Son owned 48 percent, meaning that Father essentially controlled the company. Both are employees. Over time, disputes arose between Father and Son and … Read more
Nov 3, 2010
Relief for Minority Shareholders under the Oregon Business Corporation Act
Minority shareholders in closely held corporations often feel trapped when there is conflict with the other shareholders. Frequently the minority shareholder is unaware of the legal remedies available to them. Specifically, ORS 60.951 et seq., the “Oregon Business Corporation Act”, which applies to corporations whose shares aren’t traded publicly or nationally, grants a court extensive power to impose legal and equitable remedies on the corporation and its shareholders including:… Read more
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