Court Opinion

ID: 9698073
Source: CourtListenerOpinion
Date Created: 2023-08-25 19:41:09.901027+00
Date Added: 2024-06-11T18:20:38.097314
License: Public Domain

AMUNDSON, Justice
(concurring in result).
[¶ 34.] A review of the corporate minutes and record in this case discloses that the shareholders are definitely the parties in interest in this appeal. From the transcript of the November 23, 1993 corporate meeting, the record reflects the following discussion:
[SHAREHOLDER’S ATTORNEY]: Well, our position is that by refusing to pay out a reasonable dividend to allow these shareholders to purchase the pro rata share of stock that Brett — is being offered constitutes in effect a freeze out or a restriction on — and impairs the ability of the shareholders to exercise this option. Now both Judy and Gary indicated that at this last meeting that they probably were not interested in exercising their option to buy a proportionate share of Brett’s interest.
MR CASE: That’s correct.
[SHAREHOLDER’S ATTORNEY]: So what it seems to me is that when you prohibit a reasonable dividend from be*746ing paid out when the corporation has these kinds of monies available, that in effect it constitutes a freeze out and an impairment of the shareholder’s ability to exercise their proportionate share.
The transcript of the May 28, 1998, motion hearing reflects that the corporate attorney did not even participate in that hearing.10 The shareholders did not appeal the decision of the trial court to protect their rights. In fact, the brief of the shareholders was stricken. Therefore, I affirm because the real parties in interest, who participated in the lower court, did not appeal the trial court’s decision.

. The motion hearing transcript reflects the following discussion between the shareholder's attorney and the court:
[SHAREHOLDER'S ATTORNEY]: Can I just — Mr. Clayborne [Corporation’s attorney] had to leave. He has a meeting with another party, and he had asked me to advise the Court that he has nothing to add to this hearing.