New York applies the “reasonable expectations of the shareholder” test when determining whether or not a minority shareholder has been oppressed.    In the Matter of the Judicial Dissolution of Kemp & Beatley, Inc., 473 N.E. 2d 1173 (1973), involved a minority shareholder’s petition in which he sought to dissolve a New York corporation based upon alleged oppressive conduct in violation of New York’s involuntary dissolution statute (Business Corporation Law, Section 1104-a).   New York law permits the dissolution of a corporation if the controlling shareholder acts fraudulently, illegally, or oppressively towards the complaining shareholders.   The New York Court of Appeals citing legal and scholarly articles developed and adopted the reasonable expectations of the shareholder test. In doing so, the New York Court stated that “oppressive actions refer to conduct that substantially defeats the ‘reasonable expectations’ held by minority shareholders in committing their capital to the particular enterprise.”