Check out this recent Michigan Court of Appeals case where the court found that a limited liability company, along with some of its “executives” were guilty of member oppression, self-dealing and related improper conduct concerning distribution of proceeds from the sale of the company!
Courts take the mishandling of funds and improper conduct of a company’s board or members seriously. For this reason, it is imperative for business owners to implement conduct-regulating policies and to properly enforce these policies. Otherwise, you and your board/members may find yourself at the wrong end of lawsuit- like the defendants in this case. Click here to read the opinion!
Questions or concerns about how to handle these types of matters in relation to your own business? Contact C&G today!
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