Category Archives: Business Judgment Rule

Minority Oppression and the Right to Dividends

Generally, state law, including Illinois law, does not require a company to issue dividends.  Moreover, it normally is within the discretion of the board of directors of a company to decide whether to issue a dividend and their discretion is … Continue reading

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Shareholder Oppression

A non-controlling or minority shareholder in a close corporation who is the victim of “oppression” by the controlling or majority shareholder may petition a court for dissolution of the corporation or, in other words, a business divorce. 805 ILCS 5/12.56. … Continue reading

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