Resolving Partnership and Shareholder Disputes
Partnership disputes often end in expensive and time-consuming litigation, which can damage ongoing business operations. The same can be said for limited liability companies and closely held corporations. Partnership disputes most frequently arise from a real or perceived breach of trust by one or more partners against another or the remaining partners. Typically, the breach of trust involves money and includes self-dealing, failing to account for money or other assets, profiting individually from a partnership opportunity or, simply, theft.
Well-Structured Agreements Can Prevent Many Disputes
Well-drafted partnership agreements, stockholder agreements in the case of corporations, and operating agreements in the case of limited liability companies, can aid in bringing disputes to resolution more quickly than in cases where no such agreement exists. Such agreements do not often end disputes, but they provide the framework against which an allegedly errant partner’s conduct can be judged.
Many partnership disputes require an accounting of the partnership’s activities and those of the individual partner whose actions are challenged. As in other types of business litigation, the services of a skilled forensic accountant are required. Consequently, it is advantageous to hire a lawyer who has knowledge of accounting and taxes, who readily understands the forensic accountant’s conclusions, and who is able to present those conclusions in a forceful and understandable manner.
A Record of Success Resolving Partnership Disputes
Our lawyers regularly handle complex disputes involving shareholders, partners, investors and other intra-organizational litigation, including:
- Derivative lawsuits
- Director and officer liability
- Breach of fiduciary duties
- Joint venture disputes
- Breach of partnership agreements
Payton & Associates, LLC, represented shareholders in a derivative action against a corporate officer who violated fiduciary duties. We won more than $10 million. Our lawyers also obtained a six-figure consent judgment on behalf of our clients in a business partnership/joint venture dispute. The entire award was collected.
Your Solution Starts With a Consultation
Contact our South Florida law firm online or call us at 1 305 372 3500 to schedule a consultation with a Miami business litigation attorney dedicated to providing professional representation and personalized service.