[SEC-SICD * CASE NO. 08-99-6383. February 23, 2000.]
IN THE MATTER OF THE VOLUNTARY DISSOLUTION OF THE N. BISCOCHO AND SONS, INC., NESTOR BISCOCHO, ET AL., petitioner.
D E C I S I O N
This is a petition for voluntary dissolution of N. Biscocho and Sons Incorporated, filed by all the members of the board of directors of the subject corporation.
In its Petition, petitioners alleged that after about ten (10) years pursuing the business, the petitioners, for one reason or another, have decided to completely stop the same, and concentrate instead on other ventures in their individual capacities; that the petitioners, in accordance with the mandate of the law, had already passed a resolution on November 30, 1998, dissolving their corporation; that petitioners had all the authority to cause the dissolution of the corporation being the owners of more than two-thirds (2/3) of the outstanding capital stock thereof; and that the corporation had no debt of any kind or nature, such that its dissolution will not cause prejudice to any creditor. TaDIHc
Finding the petition as sufficient in...
