involuntary dissolution

Definition of "involuntary dissolution"
  1. Termination of a corporation's existence by a court following a shareholder's request, conducted on the basis of legally fixed reasons
How to use "involuntary dissolution" in a sentence
  1. Involuntary dissolution occurs when a court ends a corporation's operations due to a shareholder's plea which is based on legally accepted factors.
  2. The shareholder petitioned for an involuntary dissolution citing clear violation of statutory constraints by the corporation.
  3. After the judge ruled in favor of the involuntary dissolution, the company was legally obligated to cease all its activities and operations.

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