Three managers of two LLCs found themselves up a creek without operating agreements. They couldn’t agree on the ownership shares of one of them, and two of the managers thought
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A Clubhouse Conundrum
Major Expansion at an Exclusive Country Club Leads to a Fight over Access to Records, Plans and Financials
At one of Charlotte’s finest golf courses, Myers Park Country Club,
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N.C. Business Court Declines to Adopt Rule that a Minority Shareholder Exercising “Actual Control” Could Have Fiduciary Duty to Other Shareholders.
The Business Court sorted through the drama of an affiliated outsider who wanted to buy a company, settled for half and became an insider, and then allegedly used that perch
Continue Reading N.C. Business Court Declines to Adopt Rule that a Minority Shareholder Exercising “Actual Control” Could Have Fiduciary Duty to Other Shareholders.