Alternative remedies to judicial dissolution

Alternative remedies to judicial dissolution. — (1) In a proceeding under s. 607.1430 , the court may, as an alternative to directing the dissolution of the corporation and upon a showing of sufficient merit to warrant such remedy: (a) Appoint a receiver or custodian during the proceeding as provided in s. 607.1432 ; (b) Appoint a provisional director as provided in s. 607.1435 ; (c) Order a purchase of the petitioning shareholder’s shares pursuant to s. 607.1436 ; or (d) Make any order or grant any equitable relief other than dissolution as in its discretion it may deem appropriate. (2) Alternative remedies, such as the appointment of a receiver or custodian, may also be ordered in the discretion of the court, upon a showing of sufficient merit to warrant such remedy, in advance of directing the dissolution of the corporation or, after a judgment of dissolution is entered, to assist in facilitating the winding up of the corporation.