by Staff of the Firm | Sep 15, 2017 | Disagreement, Multiple Owners
Shortly after Hogan was brought in as a 1/3 owner of Turbine Asset Holdings, LLC (“TAH”), he began helping TAH with business opportunities using his contacts and expertise. [1] One of those business opportunity involved Pratt & Whitney (“Pratt”), which was...
by Staff of the Firm | Sep 14, 2017 | Disagreement, Multiple Owners
The R. Shawn McBride Law Firm, PLLC, frequently writes about a partnership, LLC, and multi-owner entities. Mostly we have discussed cases or situations where business partners start out on good terms, have a spirit of teamwork and sincerely eager to start a...
by Staff of the Firm | Sep 13, 2017 | Disagreement, LLC, Multiple Owners
In Mizrahi v. Cohen, [1] a dentist and an optometrist formed a limited liability company for the purpose of the construction and operation of a mixed-use building in which they intended to set up their individual offices. They did not have an LLC agreement at the...
by Staff of the Firm | Sep 12, 2017 | Minority Shareholders, Multiple Owners
In Saunders v. Firtel, as in Cline v. Grelock, the two business partners were close friends. [1] Firtel was the sole owner of Adco, a pharmaceutical sales corporation and Saunders worked as a sales representative for a medical supply company. In 1986, the two agreed...
by Staff of the Firm | Sep 11, 2017 | Business Management, Disagreement, Multiple Owners, Partnerships
In Cline v. Grelock, [1] the business partners were two-lifetime friends who started a towing business called American Asset Recovery, LLC (“AAR”) d/b/a Hound Dog Recovery. To start the business, Grelock and Cline personally guaranteed a bank loan for AAR to buy a...
