Imagine you and your partner form an LLC. You sign an operating agreement. Several years later, the business is worth several million dollars. Your partner falls on hard times and needs to cash his share of the LLC out. What do you do now? At this point you face the following issues, just to begin with: […]
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Deadlock Provisions in Buy-Sell Agreements
A standard Buy-Sell Agreement might provide for an appraisal prior to a buyout. These agreements don’t anticipate there being a conflict after the appraisal — what happens if the appraisal comes in lower than the departing member expects, or higher than the remaining member expects? What about situations where appraisal of the company’s value is […]
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