Hello all,
Hope someone will help me here, actually, since past 10 years up until Feb 2007, I was a 50% sharedholder and running a family owned S corp with my brother and 50% partner. The corp. issued 500 aditional shares to make a total of 1500 shares and given to my sister. N meeting was held. In nov last year, there has been practically no conversation between me and my brother and my sister. I have tried to purchase the business with no luck as they refuse to sell so I told them that I wanted to be bought out. They also refused. They stated that they will not give me one penny for my ownership in the corp. The corp owns the building we operate out of which it worth about $900.000 and a mortgage of approx. $110,000. This business has many other assets and hardly any long or short term debt. Recently, my brother handed me a letter stating i was terminted effective immediately and the locks were changed that evening after i left to go home. The letter also stated that i am no longer allowed on the property. Please help me to know if i do have any rights as a shareholder that would force them to pay me my equity for my shares in the corp?
Thanks....

Thank you Stow for posting your queries.... legalexpert will be posting a response to your questions within 24 hours.

Ask for the corporation to be dissolved, and the assets distributed amongst the shareholders. Check with the secretary of state's office for information. You will need a lawyer to make sure everything is done correctly.