In re the Dissolution of Penepent Corp.

—Judgment unanimously affirmed without costs. Memorandum: The parties, petitioner Philip A. Penepent and respondent Richard S. Penepent, were shareholders in Penepent Corporation, a closely held corporation started by their father in 1937. The stock in the corporation was owned in equal shares by the parties and their brothers, Angelo and Francis Penepent.

In 1990, the parties became embroiled in a controversy involving the management of the corporation, and petitioner filed a petition for dissolution pursuant to Business Corporation Law § 1104-a. Respondent elected to purchase petitioner’s *783sha…