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    casey7398's Avatar
    casey7398 Posts: 1, Reputation: 1
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    #1

    Jun 2, 2009, 04:34 PM
    Dissolving a S Corporation
    I own a company where I am the 51% owner, CEO/President and Chairman of the Board.
    I have 4 partners owning the 20%, 10%, 10%, 5% and 4% is open stock.

    Do I have the authority and power to dissolve the company?
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    Jun 3, 2009, 04:33 AM

    Hello c:

    The way you ask indicates that there's a feud going on. If that's the case, you have a fiduciary duty to your stockholders NOT to lose their money.

    IF, on the other hand, the company is broke and you're not closing to spite anyone, you certainly can.

    excon
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