Ronald A. Brooks v. Joann E…

Summary

The Alaska Supreme Court affirmed the judgment upholding the sale of W.B.H. Corp.'s sole asset to two interested shareholder-directors. It held that the disinterested director had knowledge of the material facts, validly approved the transaction, waived any notice objection by attending without protest, and had authority to act during the corporation's winding up. The court also held that the interested directors proved the transaction was just and reasonable to the corporation. No separate opinions were filed.