Business Corporation Act Section 12.56: Defining Shareholder Oppression

In a shareholder action against a co-shareholder (co-owners or incorporated business partners, colloquially), a court may order one of the remedies provided for in 805 ILCS 5/12.56(b) if the shareholder shows that “the directors or those in control… Read More
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Business Corporation Act Section 12.56 Remedies for Oppressed Shareholders

Illinois law offers a number of remedies for closely held or private corporation shareholders trapped in toxic or dysfunctional relationships with their corporations or fellow shareholders (co-owners). Given the structure of most corporations, 50/50… Read More
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