The recent decision of the British Columbia Court of Appeal in  Petersen v Hawley, 2022 BCCA 169 provides excellent perspective on what can happen when two shareholders of a closely-held corporation come to an irreconcilable deadlock. The Court of Appeal ordered liquidation of the closely held company in this case. The decision and its underlying facts highlight that it is wise for prospective business partners to provide direction as to the resolution of future disputes by written agreement.