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Corporate Liquidation And Dissolution

Are you are a shareholder or part owner in a closely held corporation in Illinois? If so, the law firm of Herman J. Marino Ltd., P.C., in Chicago can provide you with trusted legal guidance if you find yourself involved in a corporate dispute or need help dissolving a corporation ― whether the dissolution is voluntary of involuntary.

Corporate Dissolution: The Basics

Under Illinois law, there are two primary situations in which shareholders can dissolve a corporation: when they voluntarily agree to close down the business and when the court orders them to do so.

A voluntary dissolution generally involves a corporate liquidation and the distribution of business assets, while an involuntary judicial dissolution may be the result of a lawsuit brought by a shareholder. In some cases, a court may order an involuntary dissolution if corporate assets are being mismanaged and wasted or if those in control of the business are acting illegally, fraudulently or against the best interests of the company.

At Herman J. Marino Ltd., P.C., we understand the complex nature of the legal issues involved in a corporate dissolution. With nearly four decades of legal experience, attorney Herman J. Marino will carefully explain your rights and guide you through the dissolution process start to finish. Since he has also passed the Illinois CPA examination in 1980 (but is not licensed or registered in any state), he has extensive experience with business valuations and related issues.

We Deal With All Types Of Corporate Disputes

In addition to corporate dissolution, we can put our extensive experience to work resolving many other corporate disputes, including those related to:

  • Minority shareholder oppression or freeze-out
  • Alleged buy/sell agreement violations
  • Shareholder appraisal or accounting rights
  • Breach of fiduciary duty or violation of corporate bylaws by board members or officers
  • Improper or illegal actions by board members or officers
  • Shareholder disputes
  • Business succession disputes

Creative And Sophisticated Legal Solutions

If you need to speak to a lawyer regarding corporate dissolution or any other related business dispute, contact Herman J. Marino Ltd., P.C., for experienced, effective legal guidance. Schedule a consultation today by calling 312-347-9990 or 312-347-9991.