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Judicial dissolution, informally called the corporate death penalty, is a legal procedure in which a corporation is forced to dissolve or cease to exist. Dissolution is the revocation of a corporation's charter for significant harm to society. [ 2 ]
In law, dissolution is any of several legal events that terminate a legal entity or agreement such as a marriage, adoption, corporation, or union. Dissolution is the last stage of liquidation , the process by which a company (or part of a company) is brought to an end, and the assets and property of the company are gone forever.
Case history; Prior: United States v. Standard Oil Co. of New Jersey, 173 F. 177 (C.C.E.D. Mo. 1909): Holding; The Standard Oil Company conspired to restrain the trade and commerce in petroleum, and to monopolize the commerce in petroleum, in violation of the Sherman Act, and was split into many smaller companies.
New York Supreme Court, Commercial Division, at 60 Centre Street New York courts are frequently called upon to resolve disputes over whether a limited liability corporation (LLC) should be dissolved.
The Waterfront Commission of New York Harbor (WCNYH) was a regulatory agency in the Port of New York and New Jersey in the northeast of the United States. The bi-state agency was founded in 1953 by a Congressional authorized compact between New York and New Jersey "for the purpose of eliminating various evils on the waterfront in the Port of New York Harbor."
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