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These claims stem from a misunderstanding of the term municipal corporation used in the Act. [13] [14] There are many kinds of corporations; a corporation is any group authorized to legally act as a single entity; in this case, an incorporated, organized district of the United States. Most U.S. cities and counties are municipal corporations.
Actual judicial dissolutions in the United States are rare. [12] For example, Markoff has shown that no publicly traded company failed because of a criminal conviction that occurred between 2001 and 2010. [13] Companies suggested as deserving the corporate death penalty include Eli Lilly & Company, Equifax, Unocal Corporation, and Wells Fargo.
New York Business Corporation Law section 1104-a, the holders of 20 per cent of voting shares of a non-public corporation may request that the corporation be wound up on grounds of oppression. NY Bus Corp Law §1118 and Alaska Plastics, Inc. v. Coppock , 621 P.2d 270 (1980) the minority can sue to be bought out at a fair value, determined by ...
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]
In 1837, Connecticut adopted a general corporation statute that allowed for the incorporation of any corporation engaged in any lawful business. [3] Delaware did not enact its first corporation law until 1883. Bank of the United States v. Deveaux, 9 U.S. 61 (1809) corporations have capacity to sue. Gibbons v.
In November 1906, the Justice Department sued Standard Oil of New Jersey for violating the Sherman Act. The action was brought under the Expediting Act in the United States circuit court for the Eastern District of Missouri. After a 15-month-long trial, the court issued its decree of dissolution in November 1909 and its opinion in December 1909.
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American decline is the idea that the United States of America is diminishing in power on a relative basis geopolitically, militarily, financially, economically, and technologically. It can also refer to absolute declines demographically, socially, morally, spiritually, culturally, in matters of healthcare, and/or on environmental issues .