New Connecticut Law Adds Additional Grounds to Kick Out Member of an LLC
Here’s a common scenario I see as an attorney handling business disputes: Four members start an LLC to engage in business together. They all get along as friends, colleagues, or business associates. Lets call the hypothetical business Harmony LLC. When they start Harmony, each person has an assigned role with ownership of 25% of the company. […]
You Must Prove Damages With Reasonable Certainty In Business Lawsuits
Determining if you have provable damages is often the first step in analyzing whether to pursue a business lawsuit as a shareholder, partner, or member of a limited liability company. Likewise, if you have been sued as a result of a partnership or shareholder dispute, reviewing the exposure or possible damages you face is an […]
What To Do If You Suspect Your Business Partner Is Stealing – Some Basics
In any case involving theft by a business partner or business dispute, it is very important to have an understanding of the basic issues and legal framework. Although these cases often involve complex problems, you cannot determine a good course of action without starting with the basics. Here are 5 of the basic issues […]
Breach of Fiduciary Duty In Connecticut
Here is a quick summary of another of the so called "business torts" in Connecticut known as breach of fiduciary duty. A fiduciary duty can arise in a number of contexts in business including relationships with partners, lawyers, accountants, trustees, investment advisers, brokers and employees. When one party in a relationship is a fiduciary, it […]
Dispute Between Business Partners Ends In Dissolution and Double Damages Under Connecticut Wage Act
In Saunders v. Firtel, a decision to be officially released on September 22, 2009, the Connecticut Supreme Court upheld an award of double damages under Connecticut’s wage and hour laws in what amounted to a dispute between two business partners, Barry Saunders and Burton Firtel. The supreme court also upheld judicial dissolution of a company owned by the […]
Connecticut Supreme Court Confirms Expulsion Is Available Remedy In Partnership Dispute
In an issue of first impression, the Connecticut Supreme Court confirmed that partnerships can expel a partner rather than dissolve when there is a breakdown of the business of the partnership. The case is Brennan v. Brennan Associates, et al. The official opinion will be released on August 18, 2009, but the advanced opinion already was released online. […]