This paper analyzes the involuntary dissolution remedy devised for Chilean closely held corporations, focusing on a procedural perspective. Although the 1981 Chilean Corporations Act gives some indications, several aspects related to the procedure are indirectly or even not regulated, such as the scope of judicial discretion or the arbitrability of the conflict. In addition to these issues, the object of the process is studied, which defines the nature of the dissolution decree, who are the necessary parties, and how the execution of the judgment and corporate liquidation relate to each other.