Business Divorce Attorney in Houston, Texas
What is business divorce?
What is business divorce?
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00:04
business divorce is when
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a typical example may be law partners or
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business executives
00:10
are running a business and for whatever
00:12
reason one or more of them want to
00:15
to leave the business and to recover the
00:16
value of their interest in the business
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maybe to pursue other prospects maybe to
00:20
retire
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uh maybe to invest in in something else
00:24
one case
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a business divorce case we represent an
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individual
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who was a the
00:32
the head of an entity that built uh
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rebar structures like
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parking garages and that kind of thing
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he and his
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two partners had had had a falling out
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and he came to us wanting to know what
00:45
his options were well
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time was of the essence in that case and
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and one of the things we had to do was
00:50
quickly
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uh see conjunctive relief to prevent
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his his partners it was actually an llc
00:58
so they were members in the llc
01:00
to prevent them from disposing of his
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interest
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bringing on another member of the llc so
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we got injunctive relief to stop that to
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slow that down
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uh and then we got the court to lay out
01:12
a road map to prosecuting the case
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and in in the midst of all that by
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slowing the case down we were able to
01:19
work out a redemption agreement for our
01:20
client
01:21
uh we were able to uh to get evaluation
01:24
of his interest
01:26
and it was something that he was very
01:27
happy with at the end of the day
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so he was able to leave the business
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which i think every
01:33
everybody wanted at that point but he
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was able to leave on his own terms and
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for
01:38
value that he was happy with and he is
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doing
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very well another example of a business
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divorce case that we’ve worked on that
01:44
we
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that we thought was interesting that’s
01:47
that’s still pending is we represent an
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emergency room doctor who has interest
01:52
in a number of freestanding emergency
01:54
rooms
01:55
and he wants to uh to divest
01:59
of those interests and what’s uh
02:01
important in
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in this scenario that’s not nearly as
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contentious
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as the one i previously mentioned is
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that
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getting an appropriate valuation of his
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interest was key
02:12
and since these were not your common
02:16
manufacturing operations we had to find
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a business valuator uh an appraiser
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for this industry to come up with an
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appraisal value
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that both sides were comfortable with
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and could live with
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and in that case i think we’ll be able
02:34
to avoid
02:35
litigation on the redemption of his
02:39
interest and that’s a good thing for
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everybody
02:41
when we can make it happen
Houston, TX commercial litigation attorney Dwaine Massey talks about business divorce and shares the story of a memorable case he handled.
