Shareholder Dispute Attorneys In Wheaton, IL

DuPage County Business Liquidation Lawyers

Any time two or more people join together, even if it is for the same general purpose, disagreements are practically inevitable. A shareholder dispute is one such interest in which business owners may face challenges with key stakeholders. Disagreements with shareholders can make it nearly impossible for the entity to function properly. This inaction can lead to lost opportunities, costly delays, and regret.

Just like any other legal matter where disputes may arise, it is best to be proactive and to seize the initiative. At the Law Offices of Salvatore C. Miglore & Associates, our experienced attorneys can help bring your commercial dispute to an end so you can get on with managing your business while minimizing or eliminating the damage. Our lawyers are licensed to practice in both state and federal courts and can zealously represent you in multiple forums. Every dispute is different, but our approach and professionalism remains the same. Our Wheaton civil litigation attorneys listen closely to your concerns, carefully identify the legal issues, and act quickly to defend your interests.

A disagreement can arise at any point in the business, but most occur after the corporation is well established and at least somewhat profitable. Some typical shareholder disputes include:

• Shareholder Agreement: Most of these documents, no matter how they are drafted, can be interpreted in several different ways. At the same time, the governing law is constantly changing.
• Management Agreements: This supplementary documents are particularly important in a limited liability entity, LLC or similar corporate entity.
• Capital Contributions: One party or group may assume an unfair share of the burden for capital contributions and as such, disputes may arise.
• Employment Agreements: Covenants not to compete, severance agreements, and compensation plans also fall into this category and may constitute breach of contract.
• Breach of Fiduciary Duty: The law imposes very high obligations on partners and managers, and sometimes it is necessary to hold these persons accountable.

Sometimes, these disputes are limited to a few people inside the business, and sometimes the disagreement is widespread and may involve the entire entity.

If non-litigation solutions are inappropriate for whatever reason, a lawsuit must be filed to protect your interests. Litigation generally involves a temporary restraining order or some other form of interim relief, to either stop an event from happening or force something to happen. Many civil litigation cases settle at the summary judgement phase because a party's strong points, and weak points, come under intense scrutiny. Our Wheaton civil litigation attorneys work hard to present the best possible case to put you in the best position to obtain a favorable settlement. If the dispute is serious enough, liquidation may be necessary so the parties can go their separate ways and start over. A Chapter 7 or Chapter 11 bankruptcy is sometimes appropriate in these situations.

If your business is in the midst of or you are anticipating a shareholder dispute, contact the Law Offices of Salvatore C. Miglore & Associates at 630-933-8400 for a free consultation. We serve commercial clients in Cook, DeKalb, Will, McHenry, Lake, Kendall, DuPage and Kane Counties.