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Closed Corporation
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More than 10.000 documents for Closed Corporation
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A lawyer could receive a 10 percent interest in a closed corporation as part of a compensation package for his services in starting up the business, the Massachusetts Court of Appeals has ruled in affirming judgment. The plaintiff provided 500 hours of legal services in advising the defendants in the start-up of their closed corporation in 1975. Because the defendants lacked the funds to pay the plaintiff at the time, the parties agreed that the plaintiff would receive part of his compensation in the form of non-voting stock in the company. The stock the plaintiff received amounted to a 10 percent interest.
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EMPLOYMENT – grounds for termination in closed corporation agreement; alcoholism; termination in violation of public policy; tortious interference with business relationship. DISCRIMINATION – alcoholism. CORPORATIONS – notice of shareholder meeting.
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NEW YORK, Jan. 5, 2012 /PRNewswire/ -- Sumitomo Corporation, Sumitomo Corporation of America (collectively referred to as "Sumitomo Corporation") and Unicharm Corporation closed on December 30, 2011 a joint venture deal that gives Unicharm a significant stake in the common share of The Hartz Mountain Corporation (Hartz), a wholly owned subsidiary of Sumitomo Corporation. This new strategic partnership brings together the brand power, deep category expertise and existing market share of Hartz with Unicharm's proprietary technology and high-performing innovation," said Mr. Koichi Isohata, a representative at Sumitomo. "The alliance is intended to grow the Hartz business, maximizing the potential of the U.S. Pet Care market and ideally build the business globally.
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City officials have decided it's time for Lockport Cave owner Thomas Callahan to put up or shut up when it comes to buying a building on Canal Street. After a 50-minute closed-door session of the Greater Lockport Development Corp. on Thursday, Corporation Counsel John J. Ottaviano said the Common Council will vote on the Callahan deal April 6.
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The trial court erred in granting summary judgment for majority shareholders on claims of breach of fiduciary duty, declaratory judgment, wrongful termination, conversion, civil conspiracy, and fraud. The evidence revealed genuine issues of material fact on these issues. Specifically, the majority shareholders amended the close corporation agreement to eliminate a requirement that the corporation purchase the stock of non-employees. Shortly thereafter, the majority shareholders forced the resignation of the plaintiff, who was a minority shareholder, and then terminated his employment. There were issues of fact regarding whether plaintiff’s ouster was for legitimate business reasons. However, the trial court did not err in granting summary judgment on a breach of contract claim. Alt...
... was for advertising with WHIO-TV), and closed the ticket on May 9, 2003. . After a few more exch...
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Ralph Nader, the consumer advocate and independent presidential hopeful, urged supporters Sunday to help spread his message of fighting corporate control in Washington. The door is closed. It's a corporation government," he said. "We've got to get it back.
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Plans are in the works to open a McDonald's at the site of the now-closed Rally's Hamburgers on Washington Street East near the Capitol Complex in Charleston. The corporation has bought the property from the former owner and received a zoning permit from the city of Charleston.
