Harbor Furniture Mfg. v. Tuttleton
This appeal is from the trial courts denial of an application for preliminary injunction sought by Harbor Furniture Manufacturing, Inc., a closely held family corporation, being operated under a subchapter S election for income tax purposes, in the face of a threat to have the corporations tax status changed to a C corporation by two family members constituting the majority shareholders but who occupy minority voting status in the corporation. Plaintiff and appellant, Harbor Furniture Manufacturing, Inc. will be referred to herein as Harbor. Defendants and respondents, Candi Tuttleton and Ann Stuparich are the two family members constituting the majority shareholders who, combined, own a slight majority of the shares of Harbor and be referred to hereafter as majority shareholders unless context dictates otherwise. Occasionally the family members be referred to herein by their first names, not out of disrespect, but for convenience in describing the longstanding family friction.
Court affirm the decision of the trial court.
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