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Shareholders Corporate Dissolution

Rivkin Radler LLP

When A Shareholder Loses Control of Their S Corporation

Rivkin Radler LLP on

If given their druthers, most transactional corporate attorneys would prefer to spend their day practicing “happy law,” by which they typically mean transactions that involve capital formation, mergers and acquisitions, joint...more

Allen Matkins

Is There Any Repose For A Dissolved Nevada Corporation?

Allen Matkins on

NRS 78.585 bars any cause of action against a dissolved Nevada corporation or its directors, officers, or stockholders if it is commenced within...more

Awatif Mohammad Shoqi Advocates & Legal...

Liquidation of Companies Under UAE Law: A Comprehensive Guide Based on Federal Decree-Law No. 32/2021 on Commercial Companies

The liquidation of a company is a pivotal process governed by legal regulations in the UAE. Understanding the intricacies of liquidation proceedings is essential for stakeholders involved in company dissolution. Federal...more

Allen Matkins

How Does One Serve A Dissolved Corporation?

Allen Matkins on

The California General Corporation Law provides that a California corporation that is dissolved continues to exist for the purpose of, among other things, defending actions against it.  Cal. Corp. Code § 2010(a).  This, of...more

Conyers

Frozen Crypto Assets and a Dissolved Company: The EC Court of Appeal’s Application of Convoy Collateral

Conyers on

In its seminal decision in Broad Idea International v Convoy Collateral [2021] UKPC 24 (“Convoy”), a case which had its genesis in the BVI Commercial Court, the Privy Council delivered a ground-breaking exposition of the law...more

A&O Shearman

Luxembourg case law briefing – corporate law highlights - 2023 Edition

A&O Shearman on

We are very pleased to present the third edition of our Luxembourg corporate law-focused case law briefing. In this edition, we are focusing on the 2022 calendar year rulings we identified to be the most relevant for...more

Patterson Belknap Webb & Tyler LLP

Commercial Division Rejects Co-Owner's Petition for Judicial Corporate Dissolution Amidst Protracted Unwinding of a Bronx Family...

New York Business Corporation Law (“BCL”) sections 1104 and 1104-a permit shareholders holding a certain percentage of shares in a corporation to petition for judicial dissolution of that corporation....more

Farrell Fritz, P.C.

Dueling Dissolution Petitions Beget Dissolution Without Consideration of Alternate Remedies

Farrell Fritz, P.C. on

This blog frequently covers cases considering a shareholder’s request to dissolve a corporation under New York’s oppression-based corporate dissolution statute, BCL 1104-a.  That statute allows a shareholder to petition for...more

Patton Sullivan Brodehl LLP

No Prejudgment Interest on Statutory Corporate Share Buyout

Most forms of California business entities have statutory buyout procedures allowing the company or its owners to avoid claims by a disgruntled owner for judicial dissolution by purchasing the disgruntled owner’s interest....more

Allen Matkins

Alleged Corporate Murder Merits A Jury Trial

Allen Matkins on

The California Constitution declares that trial by jury is an "inviolate right" that "shall be secured to all".  Cal. Const. Art. I, §16.  Despite this expansive language, this right in the civil context is generally limited...more

Allen Matkins

Court Finds No Right To Prejudgment Interest In Buy-Out Of Shares

Allen Matkins on

Section 1800 of the California Corporations Code authorizes specified persons to file a complaint for involuntary dissolution of the corporation based on specified grounds.   Section 2000 provides an "escape hatch" by which...more

Bradley Arant Boult Cummings LLP

Cannabusiness Divorces: Seeing Green, Not Red

Very few divorces end with a clear “winner” as famously observed by the late, great Jerry Reed in “She Got the Goldmine (I Got the Shaft).”  That is as true in a personal divorce as it is a “business divorce.” Business...more

Allen Matkins

Why A Dissolved Corporation May Sue While A Suspended Corporation May Not

Allen Matkins on

Under the California General Corporation Law a corporation which is dissolved nevertheless continues to exist for the purpose, among others, of prosecuting actions.  Cal. Corp. Code § 2010(a).   Further, no action to which a...more

Allen Matkins

What Is A "Known Liability" And Why Does It Matter?

Allen Matkins on

My last several posts have for the most part concerned the liability of shareholders when a corporation voluntarily or involuntarily dissolves.  Directors may also face liability under Section 316(a)(2) of the Corporations...more

Allen Matkins

Actions Against Shareholders Of Dissolved Corporations (Part III)

Allen Matkins on

Today's post follows up on two prior posts addressing actions by creditors of dissolved corporations.  This post discusses the non-applicability of Chapter 5 of the California General Corporation Law to proceedings for...more

Allen Matkins

Recovering Improper Distributions From Shareholders When Winding Up The Corporation

Allen Matkins on

Yesterday's  post observed that Chapter 5 of the California General Corporation Law does not apply to proceedings for winding up and dissolution of a California corporation under either Chapter 18 (involuntary dissolutions)...more

Allen Matkins

Dissolution And Limitations On Distributions To Shareholders

Allen Matkins on

Chapter 5 of the California General Corporation Law imposes specific limitations on distributions to shareholders, as defined in Section 166.  When a corporation is wound up and dissolved, whether the dissolution is...more

Allen Matkins

What Is So Special About A "Special Proceeding"?

Allen Matkins on

Several provisions of the California General Corporation Law provide for "special proceedings" in the Superior Court.  One such provision is Section 1800 which allows certain persons to bring an action for the involuntary...more

Farrell Fritz, P.C.

Common-Law Dissolution Hits Speed Bumps in Recent Decisions

Farrell Fritz, P.C. on

The heyday of common-law dissolution — if it ever had one — is long past, largely displaced by a statutory dissolution remedy for oppressed minority shareholders paired with an elective buy-out option for the respondent...more

Farrell Fritz, P.C.

Dissolve for Failure to Elect a Board? Better Demand an Election First

Farrell Fritz, P.C. on

New York’s Business Corporation Law (BCL) provides three pathways for non-controlling shareholders to achieve involuntary (judicial) dissolution. ...more

Pillsbury Winthrop Shaw Pittman LLP

Implementing China’s New Foreign Investment Law, Part Five: Exit Options for Investors of Foreign Invested Enterprises

The fifth and final installment of a series of alerts focusing on practical issues relating to China’s new Foreign Investment Law. Foreign investors seeking to exit from their existing foreign invested enterprises (FIEs)...more

Farrell Fritz, P.C.

Resignation: Antidote for Internal Dissention and Deadlock?

Farrell Fritz, P.C. on

There are countless New York corporations in which the owners are equal 50/50 shareholders and co-members of a two-member board. Where one sues the other for judicial dissolution, and the ground for dissolution is “deadlock”...more

Allen Matkins

Section 1800 And The Case Of The Little Shareholder That Could

Allen Matkins on

Section 1800 of the California Corporations Code provides a procedure for the involuntary dissolution of a corporation. The process begins with the filing of a verified complaint, but only those persons listed in the statute...more

White & Case LLP

Belgian Code on Companies and Associations: A practical handbook on the new law

White & Case LLP on

The new Belgian Code on Companies and Associations enters into force on 1 May 2019. The Belgian Code on Companies and Associations (the "BCCA"), enacted by the Belgian parliament on 28 February 2019, repeals the existing...more

Allen Matkins

Court Finds Nevada Corporate Law To Be No Bar To Alter Ego Claim

Allen Matkins on

The gist of an alter ego claim is that that there is no separation between the corporation and its owners. As a result the distinct personality of the corporation may be disregarded and the shareholders held to account for...more

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