Is the statutory remedy of judicial dissolution available when shareholders fail to implement a prior agreement for a voluntary winding up and dissolution? Nassau County Justice Stephen A. Bucaria answers the question in Matter of Toledano (Home Tower Group, Inc.), featured in this week’s New York Business Divorce.
Continue Reading Deadlock Over Voluntary Dissolution Agreement Leads to Involuntary Judicial Dissolution
Deadlock Over Voluntary Dissolution Agreement Leads to Involuntary Judicial Dissolution
Dissolution of a closely held New York corporation can be accomplished either voluntarily, by vote of the shareholders, or involuntarily by way of a petition for judicial dissolution. The two methods are fundamentally different and should never be confused.