When business partners can no longer work together, sometimes the best option for all parties to keep moving forward is a “business divorce.” CMM recently earned praise from a client for the firm’s successful navigation of both the legal and emotional issues that arose when the partners of a closely-held family business parted ways.
CMM represented the majority shareholder of a family-owned real estate company that owns and leases over 600,000 square feet of commercial and industrial properties throughout Long Island. Contemporaneous out-of-state divorce proceedings and estate planning issues for the high net worth family complicated the business breakup, but CMM remained focused on maximizing our client’s investment of time and money in the family business. The creative lawyering and business acumen of CMM attorneys Donald Rassiger and Vincent Costa successfully avoided litigation (a tremendous cost savings) and resulted in a positive outcome for our client, who shared after closing, “I want to thank you for your efforts on behalf of my family. It was a great team effort.”
CMM has extensive experience handling stock/equity purchases and sales when one or more partners buy out the other(s). The firm is adept at untangling owners’ interests from corporations, LLCs, and partnerships in crisis. Learn more about how we devise personally tailored solutions to help clients overcome challenging situations and achieve their business goals here.