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However, petitioner could not obtain financing. Thus, O’Dowd
compelled a buyout of petitioner’s stock.
B. Arbitration
1. Proposed Interim Award
On August 24, 1998, pursuant to the arbitration clause of
the shareholders’ agreement, petitioner demanded arbitration
regarding O’Dowd’s buyout. On December 1, 1999, the arbitrator
issued a proposed interim award (the December 1999 award) finding
that O’Dowd had not acted improperly in his attempt to buy
petitioner’s shares. The December 1999 award stated that the
arbitrator would reassess the award after considering motions for
reconsideration and entry of partial final award.
2. Partial Final Award
The arbitrator issued a partial final award on March 8,
2000. The arbitrator found that O’Dowd’s actions were consistent
with the buyout provision of the shareholders’ agreement. The
award permitted O’Dowd to treat the purchase of petitioner’s
stock as having occurred on September 24, 1998, 90 days after
O’Dowd invoked the buyout provision of the shareholders’
agreement. The arbitrator made the following findings: (a) But
for petitioner’s failure to tender his shares to O’Dowd within 90
days of O’Dowd’s deposit of $47 million with Green Hills, his
legal or beneficial interest in Green Hills would have terminated
on September 24, 1998; (b) O’Dowd has the right but not the
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