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4 . All Steel Pipe and Tube is a closely held corporation engaged in the business of selling steel pipes and tubes. Leo and Scott
All Steel Pipe and Tube is a closely held corporation engaged in the business of selling steel pipes and tubes. Leo and Scott Callier are its two equal shareholders. Scott is Leos uncle. Leo is one of the companys two directors and is president of the corporation. Scott is the general manager. Scotts father and Leos grandfather, Felix, is the other director. Over the years, Scott and Leo have had differences of opinion about various aspects of the operation of the business. However, despite the deterioration of their relationship, the company has flourished. When negotiations aimed at the redemption of Scotts shares by Leo began, the parties could not reach an agreement. The discussion then turned to voluntary dissolution and liquidation of the corporation, but still no agreement could be reached. Finally, Leo fired Scott and began to wind down All Steels business and to form a new corporation, Callier Steel Pipe and Tube. Leo then brought an action seeking a dissolution and liquidation of All Steel. Should the court order dissolution? Explain.
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