Corporation, Not 50/50 Shareholders, Responsible for Provisional Director Fees in Shareholder Dispute

January 27th, 2017
In a recent order, the Illinois Appellate Court held that Section 12.56(g) of the Business Corporation Act of 1983 (the “Act”) must be read to provide compensation for provisional directors by the corporation as opposed to it shareholders. Sinkus… Read More
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Categories: Section 12.56, Shareholder Disputes

Illinois Court Orders 51% Shareholder to Pay 49% Shareholder's Attorneys' Fees in Case Involving Misuse of Corporate Funds and Bad Faith Counterclaim

January 16th, 2017
The Appellate Court of Illinois recently affirmed an award of attorney fees in a Section 12.56 proceedings. In Thazhathuputhenpurac v. JT Enterprises of Chicago, the Court held that minority shareholder was entitled to reasonable attorney fees due to… Read More
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Categories: Section 12.56, Shareholder Disputes