Quote:
Originally Posted by Mr. V
It's a family LLC, I assume the perp owns a proportionate number of shares in the LLC.
I believe the best result would be to have his shares sold to the highest bidder, and have the proceeds distributed to the claimants without touching the shares of other family members: why should they suffer because of their sibling's actions?
Are they really their brother's keeper?
They probably cannot buy him out but perhaps with a loan from a bank they could, otherwise an outside can weasel their way in.
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Although magnanimous, this is not how corporations work. Unfortunately, the misdeeds of one owner are the responsibilities of the other owners. As a small business owner I know this all too well.
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