Experienced Chicago Trial Attorneys Manage Entity Control Litigation
Cost-effective resolutions where control of a business is at issue
Members, partners and shareholders of a business can find themselves at odds over a vision for the company and its implementation. In worst cases, parties can feel abused under a regime that misuses or misappropriates company assets while neglecting operations. If the controlling faction of your company ignores your complaints while continuing to engage in conduct detrimental to the company, it’s time to take decisive action. You may have recourse under the company bylaws or the laws of the state in which you’re incorporated to wrest control from reckless and irresponsible officers. Schwartz & Kanyock, LLC has vast experience in equity control litigation. We regularly counsel aggrieved parties on their options and aggressively pursue proven strategies for relief.
Taking control of a company after a breach of fiduciary duty
There’s absolutely no reason why partners and shareholders in a corporation should stand idly by while their ownership rights are trampled and their investment loses value. Schwartz & Kanyock, LLC has more than 50 years of combined business entity litigation experience. We help minority partners and shareholders address abuses in their companies through a variety of remedies:
- Injunctive relief — This type of court order restrains an officer from acting contrary to the best interests of the company.
- Declaratory relief — This is a court judgment that says the officer is in breach of fiduciary duty. Such an order may make it possible to negotiate the officer’s exit from the company without litigating remedies in the court.
- Monetary damages — A court may force the breaching officer to compensate the partners or shareholders for lost profits.
- Restitution — To prevent unjust enrichment, the court can order an officer to return any assets misappropriated from the company.
- Rescission — The court may unwind agreements the officer entered into that are clearly against the interests of the company.
- Removal — An officer or partner who has breached fiduciary duty has lost the trust of partners and shareholders, and should resign or be terminated.
Many aspects of partner and shareholder disputes can be managed in mediation or arbitration, but your most effective results come when the threat of a trial looms. With Schwartz & Kanyock, LLC you get experienced, trial-tested attorneys whose knowledge of substantive law and procedural maneuvers is rarely equaled. If your case goes to trial, we are fully prepared to pursue the results you need.
Contact our experienced litigators to fight for ownership and control of your corporation
Schwartz & Kanyock, LLC fights for the rights of minority owners. When necessary, we pursue strategies to turn corporate control over to those aggrieved parties. To schedule an initial consultation, call 312-436-1442 or contact us online.