Male lawyer at table in office, closeup Concept for LLC Member Oppression Claims/

LLC Member Oppression Claims

When a multi-member LLC is formed, members usually have the best intentions. But disputes can sometimes arise when members don’t agree on how the business should be operated — or members with a controlling interest engage in conduct that is oppre… Read More
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Chicago Urban Skyscrapers in finance district concept for: What is a Derivative Action for Corporations or LLCs?

What is a Derivative Action for Corporations or LLCs?

Directors and officers of a corporation, as well as managers and members of an LLC, must always act in the best interests of the company. A derivative lawsuit is a mechanism that can be used to protect shareholders from abuse by a corporation’s off… Read More
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Two businesswoman sitting in office shaking hands. Concept for Avoiding Business Disputes Between Partners

Avoiding Legal Disputes Between Business Partners

Business partnerships can come with many benefits and help owners accomplish much more than they would as a sole proprietor. But partners will rarely agree on everything all the time, and business disputes are not uncommon. Unfortunately, when diffic… Read More
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Corporation, Not 50/50 Shareholders, Responsible for Provisional Director Fees in Shareholder Dispute

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

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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