Articles Posted in Ownership Dispute

Steps To Take if Your Partner Is Embezzling or Stealing
Litico Law Group

Disorganization, financial difficulties, and greed can lead to a partner taking more from a business than they’re entitled. This, of course, comes at the expense of their partners. In closely held businesses, there are unfortunately numerous ways to cheat. A few examples are a partner funneling money to another entity he or she owns under…

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De Facto LLC Manager Breached Fiduciary Duties Through “Unilateral and Unauthorized” Acts
Litico Law Group

In a recent order, the Appellate Court affirmed a Cook County trial court decision finding that a de facto LLC manager in a manager-managed LLC: (1) had fiduciary duties to the other members despite not being the legal manager; and (2) breached his fiduciary duties to his co-owners by running the business and finances without…

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