close corporation

• Closely held corporations

• The World Is No Longer Flat: The Appraisal Process Applied In Close Corporation Split-Ups Since Balsamides.

Article by Alan S. Pralgever, Esq., Assisted by Gary L. Koenigsberg, Esq. This article originally appeared in the November 21, 2011 edition of New J...

• Mondaq Business Briefing
• Nbr. 2011, January 2011

• Funding Shortage Plagues Arizona Corporation Commission; Tucson Office to Close

The Arizona Corporation Commission voted on Oct. 5 to close a division office in Southern Arizona as it grapples with funding woes resulting from the governor's budget veto and from legislative inaction to fix the problem. By a vote of 3-to-2, commissioners decided to shut down the Corporations Division office in Tucson but retain its employees. The hope is that once the Legislature restores the division's budget, those employees would return.

• Arizona Capitol Times
• October 06, 2009

• The World Is No Longer Flat: The Appraisal Process Applied In Close Corporation Split-Ups Since Balsamides

Article by Alan S. Pralgever, Esq., Assisted by Gary L. Koenigsberg, Esq. This article originally appeared in the November 21, 2011 edition of New ...

• Mondaq Business Briefing
• United States Law Articles in English
• Corporate/Company Law

• Kademian v. Marger, (Ohio 2012)

The trial court erred in directing a verdict in a majority shareholder’s favor, because reasonable minds could differ on whether the shareholder’s conduct violated his duty to act with the utmost candor and good faith, and whether his failure to so act caused injury to the minority shareholder. The trial court also erred in rendering summary judgment in the majority shareholder’s favor on claims of conversion and tortious interference. There are genuine issues of material fact regarding whether the majority shareholder’s actions in dissolving a close corporation were taken for a wrongful purpose, in order to squeeze the minority shareholder out of the corporation and prevent the majority shareholder from being able to practice at area hospitals. Reversed and Remanded for further proce...

• Ohio Supreme Court

• 11th Circuit Reduces State Tax for Close Corporation Shareholder

The federal estate tax on a shareholder's interest in a close corporation can be calculated using a dollar-for-dollar reduction for the capital gains liability of the company, the 11th Circuit has ruled in reversing a deficiency assessment. The decedent in the case owned a 6.44 percent stock interest in a closely held investment holding company. The company had a net asset value of $188 million as of the date of the decedent's death.

• Lawyers USA
• December 06, 2007

• S corp LLC: does the LLC make the Illinois close corporation with S election obsolete?

In 1996, the Internal Revenue Service ruled that a limited liability company (LLC) would be taxed as a partnership unless the LLC chose to be taxed as...

• Illinois Bar Journal
• Vol. 95 Nbr. 10, October 2007

• Eastern Publishing and Advertising, Inc., (a Close Corporation), T/a 'Armed Forces News', Plaintiff-Appellant, v. Chesapeake Publishing and Advertising, Inc., (a Close Corporation), T/a 'the Military News'; Karen A. Horn; Kimberly J. Horn; Carol Whitney Ansell; Della Lemmings; Alfred E. Clasing, Iii; Raymond J. Cannoles; Louise Martins, Defendants-Appellees., 831 F.2d 488 (4th Cir. 1987)

William Edward Seekford, Towson, Md., for plaintiff-appellant. John Joseph Kuchno (Henry R. Lord, Piper & Marbury, Charles Martinez, Eccleston & Seid...

• Federal Circuits

• X-Change Corporation to Close On $75 Million for Drilling Project in the Bakken Shale and 3 Forks

X-Change Corporation Kathleen Hannifan, 281-277-0521

• Business Wire
• April 27, 2012

• ZaZa Energy Corporation Provides Operational Update and Confirms It Remains on Track to Close on the Sale of Its French Assets by Year-End.

Management remains committed to further aligning its interests with shareholders and intends to purchase shares in the open market over the coming wee...

• Business Wire
• December 11, 2012

• Chesapeake Energy Corporation, Temasek Holdings and RRJ Capital Close Recapitalization of Frac Tech Holdings, LLC.

Temasek and RRJ Capital Consortium Acquire Co-Founders' 70% Stake; As Part of Transaction, Chesapeake Receives $200 Million Cash Distribution and Incr...

• Business Wire
• May 09, 2011