The following excerpts are from the Amended Complaint filed by Abdulmohsen Hayat on April 15, 2010. As discussed above, the trial court judge issued a decision on January 11, 2011.
"Background" as included in the Hayat Amended Complaint
"Background" as included in the Hayat Amended Complaint
This is an action arising from a freeze-out in a closely-held corporation, also known as a "quasi-partnership." The Plaintiff, Abdul Mohsen Hayat ("Hayat") owns 44 percent of the stock of BTU Holdings Company ("Holdings"). The husband-and-wife Defendants own the remaining 56 percent of the stock of Holdings. For the past several years, the Defendants have denied Hayat access to corporate books and reports, failed to pay an agreed-upon monthly sum, failed to distribute dividends, and usurped corporate opportunities for themselves. The Defendants have also deprived Hayat of all rights and privileges arising from Hayat's ownership stake, all in violation of their fiduciary duties to Hayat and to Holdings.
Hayat's claims are included immediately below:
