mtthwrichards
Junior Member
What is the name of your state? Calif.-Following the Death of L.E. Ward in 1969, his widow, three chilren, and a grandson formed a corporation for the purpose of holdng the family farmlands. Leroy Ward controlled 50 percent o the orpoation,Ward Farms Inc. Throughout the life of the corporation, numerous conflicts exsisted between Leroy and other shareholders. The corporation had never declared a dividend..Several lawsuits were instituted amoung the shareholders concerning the corporation . Leroy had been enjoined from entering the property despite his control of 50 percent of the corporate stock. Leroy petitioned te court to dissolve the corporation on he grounds that it was deadlocked and its assests were being wasted.
Should the corporation be dissolved by the court????