Category Archives: Shareholder Oppression

A Court Has Wide Discretion in Granting Relief from Oppressive or Illegal Conduct by a Majority Shareholder

When a minority shareholder in a closely held corporation seeks relief from oppressive or illegal conduct by the majority shareholder, a court has wide discretion in deciding what type of relief is appropriate. The Illinois Supreme Court explored what options … Continue reading

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The Partner “Freeze Out”

The prior post introduced the concept of minority shareholder oppression, which may be grounds for the judicial dissolution (i.e., business divorce) of a privately held corporation.  A similar concept — called a “freeze out” — exists for partnerships. In particular, … 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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