- Shareholders (both record holders or beneficial holders)
- Directors (incumbent and putative)
- Officers (only if his or her own title to office is in dispute)
- Members of a corporation having no stock
Is There Any Protection Against Dissipation of Assets by the Incumbent Management While the Case Is Pending?
While a Section 225 case is pending, the parties usually enter into a status quo order that prevents the incumbent director, officer or member of a governing body from taking actions outside the ordinary course of business. Such orders are typically agreed to among the parties prior to appearing before the Court, but sometimes when the parties cannot agree, the Court on its own enters such an order.