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"Business Divorces", Partnership and Shareholder, and Corporate Governance Disputes

One of the most common disputes we handle for clients are what are known as "business divorces". These are disputes between shareholders of closely held corporations; members of limited liability companies or partners of a partnership. The disputes often include disagreements and split ups between 50/50 owners who went into their business ventures years ago with the best of intentions and hopes, but the barest of legal documentation. Sometimes it is a minority shareholder/member/partner who feels he or she is being "squeezed out" by the majority owners.

Regardless of the form of ownership or entity, all of these break-ups and disputes require knowledgeable, experienced counsel familiar not only with the law of corporations, limited liability companies and partnerships, but the ins and outs of how to manage the buy-out of one partner of the other; the liquidation and dissolution of the entity and all of the steps involved, from valuation, to litigation, if necessary, and the complex negotiations required to separate out business partners who find they no longer can effectively manage and operate their businesses together.

We have handled hundreds of these "business divorces" over the past 40 plus years and have seen every possible situation. We routinely work with experienced valuation firms and accountants to obtain valuations of the business entity—typically the first step—and then guide our clients to the end game of separating away from their business partners.

We have handled these split ups in multiple situations, numerous jurisdictions and, when necessary and prudent for our clients, we have litigated the many issues that arise between business partners, including breach of fiduciary duty, accountings, statutory and voluntary dissolutions and wind downs. We know our way around the courtroom and the negotiating table and have extensive experience, and knowledge, in how to separate out partners who no longer can work together productively.