Court Opinion

ID: 9694965
Source: CourtListenerOpinion
Date Created: 2023-08-25 18:02:03.729959+00
Date Added: 2024-06-11T18:20:07.265332
License: Public Domain

FINE, J.
(concurring). Mr. Sletteland has standing to complain and attempt to prove that the price at which Park Bancorporation seeks to purchase the stock is less than its fair market value, irrespective of whether he can prove fraud. Certainly, he would be harmed equally if the low price was the result of ignorance or negligence, for example, as well as fraud, and has standing to protect his interest. The trial court should, however, protect the parties against loss if Mr. Sletteland cannot prove his allegations. If warranted, for example, the trial court could in the exercise of its reasoned discretion: require Mr. Sletteland to provide security to Mrs. Sletteland if the fair market value of the stock should fall and the bank seeks to withdraw its offer; permit Mr. Sletteland to bid against the bank for the stock, with the funds distributed as provided for in *147the Marital Settlement Agreement; or permit the bank to purchase the stock, but award to the college fund and Mr. Sletteland, according to their respective interests, damages equal to the fair market value of the stock, less what the bank pays.