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Shareholders Public Policy

Mintz - Bankruptcy & Restructuring Viewpoints

Delaware Bankruptcy Court Rules that Shareholder Cannot Enforce “Golden Share” Blocking Right to Dismiss Bankruptcy Filed Without...

As the COVID-19 pandemic continues to disrupt businesses and markets, and companies begin to look to bankruptcy courts for relief from the resulting liquidity and operational distress, the issue of creditor and shareholder...more

White & Case LLP

How long is too long? Construing non-compete restrictions in shareholders’ agreements

White & Case LLP on

Non-compete restrictions for key stakeholders are common in shareholders' agreements. In Guest Services Worldwide v Shelmerdine, the Court of Appeal upheld a 12-month post-departure restriction, rejecting arguments that...more

Mintz - Bankruptcy & Restructuring Viewpoints

Are Bankruptcy Blocking Provisions in Corporate Governance Documents Enforceable?

It has long been the law that creditors are rarely entitled to contractually prohibit a debtor from filing for bankruptcy, whether such restriction is contained in the debt instruments or in the corporate governance...more

Allen Matkins

New Law Attempts To Clarify Legal Status Of LLC Employee Membership Purchase And Option Plans

Allen Matkins on

California Labor Code Section 407 may be a bit of a surprise to many lawyers both in and outside of the state.  It provides: Investments and the sale of stock or an interest in a business in connection with the securing of a...more

Allen Matkins

Court Declines To Declare “S” Corporation Shareholders’ Agreement Unenforceable

Allen Matkins on

In general, shareholders of a corporation that has elected to be taxed under Subchapter S of the Internal Revenue Code are taxed on corporate profits regardless of whether the corporation makes any distribution of those...more

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