Veyna

Minority shareholders of Orange County Nursery, Inc. (the moving parties), filed a complaint for involuntary dissolution of the corporation. (Corp. Code, § 1800, subd. (b).) The corporation (the purchasing party), through its president, Robert Veyna, elected to buy out the moving parties in order to avoid dissolution. (Corp. Code, § 2000.) After reviewing the independent appraisal report, the trial court entered a decree on November 21, 2008, fixing the fair value of the moving parties’ shares and ordering that unless the purchasing party made payment for the shares in cash by December 15, 2008, judgment would be entered winding up and dissolving the corporation.

Without making the required payment, or first seeking relief in the trial court, the purchasing party filed a notice of appeal December 5, 2008. Three days later it filed the instant petition for writ of supersedeas in which it asks this court to stay the trial court decree pending resolution of the appeal. It argues that once an appeal is perfected the decree’s requirement that payment be made for the shares, in this case by December 15, is automatically stayed until the reviewing court, at the end of the…