In re the Voluntary Dissolution of Radom & Neidorff, Inc.

Section 103 of the General Corporation Law, insofar as here relevant, permits a petition for dissolution of a corporation by the holders of one half of the shares of stock entitled to vote for directors “ if the votes of its stockholders are so divided that they cannot elect a board of directors ”. That is the precise situation in the case before us, for the petition explicitly recites that petitioner Badom and respondent Neidorff “ are hopelessly deadlocked with respect to the management and operation of the corporation ” and that serious disputes have developed between them with the result…