That is what dissolution would achieve but dissolution does not mean business will cease. There is a wind-down period where assets/liabilities would have to be settled and usually a court appointed receiver would decide what is best for the company, creditors and shareholders so many things can be done, even continuance of business operations (i.e. release of Yellow, sale of film assets and so on).
He doesn't want his Preferreds diluted nor share any distribution with Jake. I think Manu got really spooked by the SEC deposition which I think could be related to the old SAPX/GFM deal for Yellow years back. Jake and Manu are probably both under investigation for the SAPX scam...
In God We Trust. All Others Must Pay Cash.