On March 26, 2020, Governor John Bel Edwards issued Emergency Proclamation 37 JBE 2020 (the “Proclamation”) providing certain measures intended to aid Louisiana businesses in navigating the COVID-19 pandemic, including a temporary suspension of the statutory requirement that Louisiana corporations notice and hold annual and special shareholder meetings at a physical location.

Generally,

A decision handed down by Louisiana’s Third Circuit Court of Appeal on February 21, 2019, is the first reported case to examine the remedy granted to oppressed shareholders by the Louisiana Business Corporation Act (LBCA), which became effective in 2015.

The LBCA introduced in Louisiana a version of what is known as the “oppression remedy,”

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The Louisiana Business Corporation Act (“LBCA”) became effective on January 1, 2015.  The changes to Louisiana corporation law embodied in the LBCA are extensive, especially in the areas of dissolution and termination of a corporation.

Simplified Termination

The LBCA allows corporations to terminate by simplified articles of termination if the corporation:  (1) does not owe