N.Y. Business Corporation Law § 1116: Discontinuance of action or special proceeding

§ 1116. Discontinuance of action or special proceeding.

An action or special proceeding for the dissolution of a corporation

may be discontinued at any stage when it is established that the cause

for dissolution did not exist or no longer exists. In such event, the

court shall dismiss the action or special proceeding and direct any

receiver to redeliver to the corporation all its remaining property.