2018-00224653-CU-PP

Parker Turner Albright, PC vs. Port J. Parker

Nature of Proceeding: Motion to Appoint Receiver

Filed By: Alves, Suzanne M.

This matter is dropped from calendar.

The Motion to Appoint a Receiver is subject to the stay resulting from the granting of the petition to appoint appraisers to value defendant’s interest in the corporation.

Petitioner Parker Tumer Albright, PC (“PTA”) has elected to exercise its statutory right to purchase Respondent Port J. Parker’s (“Respondent”) shares in PTA pursuant to Corporations Code section 2000 (“Section 2000″), which gives PTA the express right

to ”avoid the dissolution of the corporation and the appointment of any receiver.” (Corp. Code, §2000, subd. (a), emphasis added.)

On February 20, 2018, the Court granted petitioner Parker Turner Albright, PC’s motion to (1) an order appointing three appraisers to appraise respondent Port J. Parker’s 50% ownership interests in Parker Turner Albright, PC; (2) an order staying the dissolution and winding up of Parker Turner Albright, PC; (3) an order setting the amount of the bond required to be posted by petitioner Parker Turner Albright, PC, at $25,000; (4) an order setting forth the time frame during which the bond must be posted and the appraisal reports must be made; and (5) for an order requiring petitioner Parker Turner Albright, PC, and respondent Port J. Parker to cooperate with the appointed appraisers during the appraisal process.

Therefore, since the dissolution of the corporation has been stayed, the motion to appoint receiver to take over PTA is dropped from calendar.