H. Joel Newman, PLLC Business Litigation Attorney
Michigan Business Litigation Attorney H. Joel Newman lays out the most common causes of shareholder disputes, partner disputes and member disputes and in LLC and other closely held corporations.
Henry Gornbein: What are typical issues that you deal with when a client comes to you and says you know I'm not happy with my partners, or I think I'm getting taken advantage of? You know it's always about money I'm sure so...
Joel Newman: There many ways those in control of the corporation can take advantage of minority owners in closely held corporations.They can cut their dividends, they can pay themselves excessively, they can steel opportunities that should belong to the company, they can take money out of the company through doing business with other companies that they have an interest in,they can interfere with minorities voting rights,they can they can make capital calls abusively to freeze somebody out, to dilute their ownership interest.
So there are many different issues, but more frequently than not it has to do with some kind of dishonesty in taking care of or taking advantage of the corporation or the LLC is it may be.
H. Joel Newman is an attorney specializing in business litigation, commercial litigation and shareholder disputes. Practicing in Oakland County Michigan, Wayne County Michigan and Macomb County Michigan.