Ray Hrdlicka – Host – Attorneys.Media
“You mentioned that…that one partner was not pulling his weight, was not doing anything. Now let’s say that goes on for an extended period of time, not just months, but let’s say, years. Well, if the articles of incorporation state that they have to buy him out at the market share, or the market value of the business, one third. Yet the value from when he failed to start putting his weight in…to that point in time, could not be attributed to him. Now, do you have a fight? If you’re going to say, wait a minute, it’s not market value present day, its market value way back when…?”
Michael Campbell – Business Dispute Attorney – Pierce County, WA
“You can… you can argue that if you’re the other two guys. But the problem is that if you didn’t do anything at the time when it first became noticed as a problem, you’re probably stuck with the current market value of the company, if it’s gone up considerably, he’s benefited from your work.”
Ray Hrdlicka – Host – Attorneys.Media
“Well, you know, it’s interesting that you say that, and legally I can understand that. But that causes me to think that somebody is going to pull the trigger and try to divorce, as you described it earlier, maybe prematurely! Where again…So it’s a toss-up, which is a better way to go.”
Michael Campbell – Business Dispute Attorney – Pierce County, WA
“And if you use the family law analogy, again, remember that things change even in the course of a lawsuit in the family courts. And the final outcome is going to be based on the situation that exists at the time that the judge renders a decision and issues an order. It’s not going to be based on how it was at the time the suit was first filed, and it’s certainly not going to be based on how it was two years before. And so, the same is true in the business context. It’s going to be based on the way, the way things stand at the time, that the decision, at the earliest, at this time, the decision, is made by the majority of partners that they want this minority partner out.”
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