Business Divorce: Judicial Dissolution and Other Remedies for Disputes Between Owners – Webinar

A live CLE webinar on Wednesday, January 10 @ 1:00pm EST

Legally separating the owners of a closely-held business, or “business divorce,” can be extremely complex. Because business divorce cases often involve the founders of the entities (or their spouses or children), disputes may involve personal animosity and rancor. Judicial dissolution is often the inevitable result.

Counsel should be aware of the ramifications of dissolution under state law and other available options to separate the parties. If the entity’s governing documents address how interests will be separated upon a business divorce, courts will usually follow those agreements, regardless of the type of entity. If not, statutes usually will govern and common law may fill any gaps (equitable dissolution of LLCs in Delaware, for example).

What if dissolution is not available because the governing documents preclude it, or the party wishing to dissolve is a minority owner and is unable to effectuate a dissolution? The answer will depend on the type of entity and applicable state law. Statutes may allow a majority stockholder to eliminate a minority stockholder’s interest involuntarily though a squeeze-out merger.

The minority equity holder has fewer options, but some states recognize concepts of “minority oppression” or “equitable buyout” to force the majority to buy out the minority.

Kurt M. Heyman, Partner at Heyman Enerio Gattuso & Hirzel; Peter A. Mahler, Partner at Farrell Fritz; Richard F. Munzinger, Partner at Shartsis Friese and Melissa Donimirski at Heyman Enerio Gattuso & Hirzel, will explain the options available to counsel when an entity’s founder or partner wishes to end a business relationship due to a decision-making deadlock or other dispute between owners. The panel will discuss the issues addressed in a judicial dissolution and offer alternatives to dissolution for majority and minority stakeholders.

The panel will review these and other key issues:

• What are some of the circumstances which can give rise to a business divorce?
• When is judicial dissolution an option and what are some of the impediments?
• What are some alternatives to judicial dissolution?

For more information or to register  > or call 1-800-926-7926 ext. 10 (ask for Business Divorce: Judicial Dissolution and Other Remedies on 1/10/18 and mention code: GX1L61-X1NLLY)

Early Registration Discount Deadline, Friday, December 22, 2017