Under the Illinois Uniform Partnership Act (IUPA), all partners are liable for any wrongful act or omission by any partner (In re Keck, Mahin & Cate, 274 B.R. 740 (2002)), (Bane v. Ferguson, 707 F.Supp. 988 (1989)). This includes acts that occur
Lubin Austermuehle, P.C.
The lawyers at Lubin Austermuehle, P.C. handle all types of internal disputes that may take shape during the course of a company’s formation, management, or dissolution. When it comes to managing a family business, for example, complications may arise that are perhaps unforeseeable. For instance, when spouses who co-own a company decide to divorce, the entity’s value as well as who retains ownership and managing responsibilities must be determined either through negotiations leading to an agreement or by a judge in court.
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Why Retain Lubin Austermuehle to Defend Your Class Action Lawsuit?
When facing a class action lawsuit, the stakes are incredibly high. The complexity of these cases requires a legal team with specialized expertise and a track record of success. Lubin Austermuehle stands out as a premier choice for several compelling…
What is Joint Venture? When is Joint Venture Partner Required to Account? Lubin Austermuehle Concentrate on Breach of Fiduciary Duty in the Chicago Area.
The elements required to establish a joint venture are broadly consistent across the search results. They include:
1. An express or implied agreement to carry on an enterprise (805 ILCS 206/202), (Ambuul v. Swanson, 162 Ill.App.3d 1065 (1987)), (Yokel v. Hite, 348 Ill.App.3d…
What are the Best Defenses Under Illinois Law for a Partner Accused of Breaching Fiduciary Duties to the Partnership or Other Partners?
Under Illinois law, defenses for a partner accused of breaching fiduciary duties to the partnership and his other partners can be varied and nuanced (LID Associates v. Dolan, 324 Ill.App.3d 1047 (2001)), (Pielet v. Hiffman, 407 Ill.App.3d 788 (2011)). Here are some…
How do you Protect Beneficiaries in Illinois Estates From Breaches of Fiduciary Duty By the Administrator?
To protect beneficiaries in Illinois estates from breaches of fiduciary duty by the administrator, several measures can be taken based on the duties and responsibilities outlined in the relevant laws and cases.
Firstly, it’s important to establish that the relationship…
What Illinois Law Protects Minority Shareholders or LLC Members from Breaches of Fiduciary Duty in Closely Held Companies?
In Illinois, the protections for minority shareholders or LLC members from breaches of fiduciary duty in closely held companies can be found in a combination of statutory provisions and case law.
Firstly, the Illinois Limited Liability Company Act (805 ILCS…
Why You Should Choose Lubin Austermuehle as Your Lawyers to Protect Your MInoirty Interests in a Closely Held Illinois Company From Breaches of Fiduciary Duty?
Choosing the right law firm to protect your minority interests in a closely held company is crucial, particularly when it comes to addressing breaches of fiduciary duty. Lubin Austermuehle is a firm that you might consider for several reasons:
…
Why Retain Lubin Austermuehle for Your Title IX Case Against a Your College or University?
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Can I Sue My College or University for a Tille IX Violation?
Yes, an individual can sue a college or university for a Title IX violation. The Supreme Court has recognized that Title IX entitles a person injured by a violation to sue for damages. In such cases, the plaintiff must demonstrate…
What are the Grounds for Suing a Business Partner in Illinois?
In Illinois, there are several circumstances under which a partner can sue another partner (Battles v. LaSalle Nat. Bank, 240 Ill.App.3d 550 (1992)), (In re Ascher, 141 B.R. 652 (1992), (Hux v. Woodcock, 130 Ill.App.3d 721 (1985)):
1. A partner can sue another…