By Thomas J. Kanyock | Published November 30, 2019 | Posted in Business Oppression | Tagged Tags: constructive fraud, corporate records\, Fiduciary Duty, fraudulent inducement, minority shareholders, non-reliance clause | Comments Off on Court Bars Business Oppression Even Though Shareholders Were in Litigation
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constructive fraud
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Court Bars Business Oppression Even Though Shareholders Were in Litigation
Business oppression occurs when the shareholder majority exercises its voting power to abuse the ownership rights of the minority.
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Fraudulent Intent Not Always Necessary to Unwind an Improper Transaction
Creditors may use Illinois’ Uniform Fraudulent Transfer Act (IUFTA) to recover funds improperly shifted by a debtor to a third party.
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