Indiana § 23-1-44-20 - Costs; fees; attorney's fees

§ 23-1-44-20. Costs; fees; attorney's fees

Sec. 20. (a) The court in an appraisal proceeding commenced under section 19 of this chapter shall determine all costs of the proceeding, including the reasonable compensation and expenses of appraisers appointed by the court. The court shall assess the costs against such parties and in such amounts as the court finds equitable.

(b) The court may also assess the fees and expenses of counsel and experts for the respective parties, in amounts the court finds equitable:

(1) against the corporation and in favor of any or all dissenters if the court finds the corporation did not substantially comply with the requirements of sections 10 through 18 of this chapter; or

(2) against either the corporation or a dissenter, in favor of any other party, if the court finds that the party against whom the fees and expenses are assessed acted arbitrarily, vexatiously, or not in good faith with respect to the rights provided by this chapter.

(c) If the court finds that the services of counsel for any dissenter were of substantial benefit to other dissenters similarly situated and that the fees for those services should not be assessed against the corporation, the court may award to these counsel reasonable fees to be paid out of the amounts awarded the dissenters who were benefited.

As added by P.L.149-1986, SEC.28.

IC 23-1-45Chapter 45. Voluntary Dissolution

23-1-45-1Corporation that has not issued shares or commenced business 23-1-45-2Proposal for dissolution; notice; adoption by shareholders 23-1-45-3Filing of articles of dissolution; date of dissolution 23-1-45-4Revocation of dissolution 23-1-45-5Continuance of corporate existence; winding up affairs; effect of dissolution 23-1-45-6Disposition of known claims; procedure 23-1-45-7Notice of dissolution; claims against dissolved corporation