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Business Partners Business Divorce

Lowenstein Sandler LLP

All in the Family: Succession Issues in Family-Owned Businesses

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On this episode of “Splitting Heirs,” Warren K. Racusin talks with Lowenstein partner Nick San Filippo IV, Chair of the firm’s Business Divorce practice, and Jeff Savlov, a partner in the family business and wealth consulting...more

Farrell Fritz, P.C.

Special Considerations for Law Firm Breakups

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Just a few weeks ago, I commented on a recent uptick in disputes centered on the breakup of professional services firms. In those disputes, we expect that the demands of the legal, accounting, and medical professions draw...more

Bradley Arant Boult Cummings LLP

Opening Up the Business Partner Time Capsule: Partnership Lessons Shared by Owners and Investors

Hindsight can be a wonderful thing, especially if hard-earned lessons are adopted by others who are willing to learn from past mistakes. When private company owners and investors share with me some of the wisdom they have...more

DarrowEverett LLP

Buyouts of Closely Held Shares: All’s Fair Value in Love and War

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In matters of corporate divorce, deadlock, majority oppression, or usurpation of corporate opportunities are all well-tread grounds for disputes between co-owners of closely held entities. These disputes often culminate in...more

DarrowEverett LLP

Til Death Do Us Part? Corporate Divorce Can Be Messy, But Not for the Prepared

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While no one enters a partnership expecting it to end in divorce, no one is immune to failure. In the world of business, partnerships can sometimes mirror the complexities of personal relationships. Often, it is the “we’ve...more

Bradley Arant Boult Cummings LLP

Breaking Up Is Hard to Do: Issues to Consider in a Business Divorce

It may be a reflection of summer’s lazy days or a simmering frustration that has built up over time, but it is not uncommon for a majority owner or a minority investor in a private company to decide the time has come to...more

Bradley Arant Boult Cummings LLP

The Time to Say Goodbye to Your Business Partner: When Subtraction Results in Addition for the Company

Successful private company owners often share the traits of having vision, passion and a strong sense of purpose. That does not mean that they govern their companies without having any disagreements with their minority...more

Stradling Yocca Carlson & Rauth

California Business Divorce: Corporate Opportunity Usurpation and Best Practices to Avoid it in Your California LLC

Going into business with someone requires a high level of trust. For a business to thrive, business partners must be loyal to the business and each other. As in a marriage, when a partner in a business is disloyal, things...more

Stradling Yocca Carlson & Rauth

California Business Divorce: Why Business Partners Split—and What to do About it in Your Operating Agreement

In many instances, an irreconcilable dispute leads business partners to break up, and sometimes end up in litigation. Even when owners get along great, life events such as failing health may force someone to depart the...more

Bradley Arant Boult Cummings LLP

After the Bubbly Is Gone: Business Resolutions for Majority Owners of Private Companies to Consider in the New Year

Following a challenging year for business owners, the time to decompress and celebrate with family and friends this holiday season provided a necessary respite. When business resumes, however, there are important action items...more

Farrell Fritz, P.C.

Minority Shareholder’s Petition to Dissolve Seltzer Business Loses Its Fizz

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In 1950, Sam Hoffman and his two sons, Hyman and Melvin, founded Brooklyn-based Cornell Beverages, Inc. to manufacture and distribute seltzer. Those were the days when “seltzer men” made weekly home deliveries of cases of...more

Bradley Arant Boult Cummings LLP

Buy-Sell Agreements May Not Be the Holy Grail, But They Can Help Limit Headache and Heartache

Disagreements are common between business partners in private companies, but most do not lead to a partner exit. When partner conflicts become severe enough to warrant a business divorce, however, majority owners and minority...more

Bradley Arant Boult Cummings LLP

Cannabusiness Divorces: Seeing Green, Not Red

Very few divorces end with a clear “winner” as famously observed by the late, great Jerry Reed in “She Got the Goldmine (I Got the Shaft).”  That is as true in a personal divorce as it is a “business divorce.” Business...more

Farrell Fritz, P.C.

On the Menu: Steak and Equitable Dissolution

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Fine dining and business divorce crossed paths in a recently decided case featuring a lengthy battle between co-equal ownership factions of the corporation that operates Delmonico’s, the renowned Manhattan restaurant...more

Winstead PC

Don’t Wait to Jump Off the Bandwagon: Cutting Ties With a Bad Business Partner (Part 2)

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As we have noted in previous posts, it can become critical for the majority owner of a private company to remove a business partner who holds a minority ownership stake in the business and who is causing major dysfunction in...more

Winstead PC

When To Pull the Plug: Factors to Consider in Deciding Whether to End The Relationship with A Business Partner (Part 1)

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Experience teaches us that all relationships have ups and downs, including those existing between business partners. When the relationship becomes strained between partners in a private company, however, the majority owner...more

Cole Schotz

Pandemic Update: Review The Terms Of Business Agreements

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The global coronavirus pandemic is of course a challenging time. Many businesses have been hard hit and may not recover. Unemployment has skyrocketed. On the other hand, there are many businesses that have been only mildly...more

Farrell Fritz, P.C.

Trouble Down on the Farm: The Importance of Using Experienced Counsel When Forming an LLC

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It’s commonly said there are three things that matter with real estate: location, location, location. Likewise, three things matter when choosing a lawyer to set up a limited liability company: experience,...more

Patton Sullivan Brodehl LLP

Seven Critical Mistakes LLCs Make, and LLC Manager Power Issues

The “Seven Critical Mistakes LLCs Make” Series - This series of posts covers some of the most serious mistakes that LLCs regularly make. Here are...short summaries of each: Choosing the Wrong Business Partners —...more

Farrell Fritz, P.C.

Court cannot search the record on claims not the subject of the motion, or can it?

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The Appellate Division, in a short but direct ruling, reminds the bench and bar that courts cannot simply “search the record” and grant summary judgment on claims or defenses that are not the subject of the motion. It did so...more

Farrell Fritz, P.C.

49% Shareholder Can’t Seek Deadlock Dissolution Despite Shareholders’ Agreement Granting Co-Equal Control

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Shareholders A and B are the sole shareholders of a real estate holding corporation. Their shareholders’ agreement includes provisions that...more

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