If a petitioner is able to satisfy the three requirements set forth in Section 273 of the DGCL—namely (i) two 50/50 stockholders, (ii) engaged in a joint venture, and (iii)
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DGCL Section 273
Section 273 Dissolution – Inability to Agree upon the Desirability of Discontinuing the Joint Venture
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Under Section 273 of the DGCL, the third requirement under the statute is the inability of the two stockholders to agree upon the desirability of discontinuing the joint venture…
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Section 273 Dissolution – What Constitutes a “Joint Venture” (Part I of II)
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Section 273 of the Delaware General Corporation Law (“DGCL”) requires that the stockholders “shall be engaged in the prosecution of a joint venture” in order to seek dissolution of an…
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Section 273 Dissolution – Timing of Requirement of 50/50 Stockholders
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As addressed in the prior post, under Section 273 of Delaware General Corporation Law (“DGCL”), the “joint venture” entity sought to be dissolved must be comprised of no more than…
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Section 273 Dissolution – 50/50 Stockholders Required
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In a prior post, we discussed the dissolution of “joint venture” entities under 8 Del. C. Section 273, along with the requirement that such entities only have two…
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Chancery Grants Petition to Dissolve Corporation Pursuant to Section 273
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Under the Delaware General Corporation Law (the “DGCL”), 8 Del. C. § 273 provides the basis for the dissolution of a deadlocked “joint venture” corporation, meaning that there are two…
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Dissolution of an LLC with Two 50/50 Deadlocked Shareholders
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Under the Delaware General Corporation Law (the “DGCL”), 8 Del. C. § 273 provides the basis for the dissolution of a deadlocked “joint venture” corporation, meaning that there are two…
Continue Reading Dissolution of an LLC with Two 50/50 Deadlocked Shareholders