Despite the best of intentions, co-owners of closely-held businesses can find themselves in serious disagreements over the best course of action for the company. When such deadlocks arise, there are instances in which the only way to resolve such disagreements is to dissolve the company, divide up its assets among the owners, or facilitate the sale of a departing owner’s interest. In these matters, we have experience representing the company, minority owners, majority owners, management owners, and non-management owners.
We regularly advise our clients on the best ways to wind down a business efficiently, divide the assets or facilitate the acquisition of a departing owner’s interest while simultaneously protecting the business and the remaining owners’ interests (depending on the Firm’s client). When such a process cannot be accomplished amicably, we act as advocates for our clients in the ensuing litigation or arbitration.
Our business lawyers often find that skillful drafting and structuring of the business owners’ relationship on the front end can avoid or minimize disputes over major decisions, or at least provide the parties with a dispute resolution roadmap for ending their relationship. The Firm has represented closely-held clients in a range of industries in connection with the exercise of mandatory buy-sell provisions, so-called “Texas shootout” clauses, and deadlock-initiated arbitration and mediation proceedings.
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