The statutory LLC buyout is a special remedy designed for lawsuits seeking to dissolve LLCs. After members of the entity sue to dissolve the business, the other members (all of them or some of them) have the statutory ability to avoid dissolution by buying out the membership interests of these…
When business entities become subject to internal dissension, it’s not uncommon for several members to approach the court system and seek to dissolve the entity. Often, this is in the best interest of all involved. Sometimes, however, the other members, shareholders, or partners, do not want to let the business…
LLC’s are perhaps the most common form of business entity in the country on account of their approachability. But their large number means that plenty will and do fail. When this occurs, members of the LLC can file a lawsuit for “involuntary dissolution.” That said, the non-dissolving members have a…