Commercial Shareholder Disputes Attorney in Minneapolis, Minnesota

Business Owners Disagree to Sell

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That can sometimes cause a deadlock situation between owners, which there’s a corporate statute. It’s Minnesota 302A is kinda the parlance that corporate lawyers and commercial litigators are used to. There’s a procedure within it that if a company’s deadlocked in decisions or if other issues arise creating such a dispute that one set of owners wants to sell the company, they can ask the court to have a court-ordered sale of the company or to sell their interest in the company. So that’s a way that if one side wants to sell and the other doesn’t, can result in having a court order a sale.

Minneapolis commercial litigation and professional liability attorney Barry O’Neil discusses what to do if some owners want to sell a business and others do not.

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