New York Corporate Dissolution Lawyers Can Help You Close Your Business
Professional corporate law attorneys serving NYC residents since 1994
If your business is winding down, you must dissolve your corporation in order to stop paying future taxes and fees to the state of New York. In general, there are two types of corporate dissolution: voluntary dissolution, which is a fairly straightforward process, and involuntary or petitioned dissolution, which requires court intervention. Whether you’re facing voluntary or involuntary dissolution, the Law Offices of Tacopina Seigel & Turano, P.C. can help you avoid the potential pitfalls involved in dissolving your business and recommend a sound course of action that protects your best interests. The firm is comprised of experienced and highly respected NYC attorneys who are dedicated to providing clients with high-quality legal service.
Experienced NYC business attorneys explain involuntary dissolution
If all of the parties with an interest in a corporation do not consent to dissolution, and you are a 50 percent shareholder, you may petition the court to dissolve your New York corporation. The court may grant your petition if you demonstrate the following facts:
- That the corporation's directors are so at odds about the management of the corporation that it is impossible to get enough votes to take board action
- That the shareholders are so at odds that enough votes cannot be amassed to elect directors
- That as a result of internal dissention amongst two or more groups of shareholders, dissolution would be beneficial to all shareholders
No one forms a corporation with the intent to see it dissolved as a result of infighting. However, corporations are going concerns and it is impossible to predict what may happen throughout the corporate lifespan. As such, it is sometimes in the best interests of all shareholders for a corporation to be wound down and dissolved.
When this occurs, it is important for you to be represented by competent civil lawyers who are well-versed in corporate transactional law and commercial litigation. NYC attorneys with these skill sets can best look out for your interests when dealing with adverse shareholders while at the same time orchestrating the orderly dissolution of the corporation and its assets.
Sound legal advice regarding corporate dissolution
The Law Offices of Tacopina Seigel & Turano, P.C. is a top-rated law firm providing premium legal service to corporations throughout New York. Call today at 212-227-8877 or contact us online to schedule a consultation with a highly qualified attorney at the firm.