Litigating Partner, and Shareholder Disputes in Closely Held Corporations or Partnerships

Litigating partner dispute claims in Illinois involves following the legal procedures set out by the Illinois Business Corporation Act (BCA) and the Illinois Uniform Partnership Act (UPA).

If the dispute is between partners in a partnership, the UPA provides the framework for resolving disputes. The UPA provides that partners owe a fiduciary duty to each other, and this duty requires partners to act in good faith, fairly and with loyalty towards one another. If a partner breaches this duty, the other partners may have a claim against the breaching partner for damages and other remedies.

If the dispute is between partners in a corporation, the BCA provides the framework for resolving disputes. The BCA provides that a shareholder of a corporation may bring a derivative claim on behalf of the corporation against a director or officer for breach of fiduciary duty. If the shareholder can show that the director or officer breached their duty and caused harm to the corporation, the court may order damages or other remedies against the director or officer.

In either case, the first step is often for the parties to attempt to resolve the dispute through negotiation or alternative dispute resolution (ADR) methods such as mediation or arbitration. If this is not successful, the next step is to file a lawsuit in the appropriate court. The court will then oversee the litigation process, which may include discovery, motion practice, and ultimately, trial.

It is important to note that litigating partner disputes can be complex and costly, both in terms of time and money. It is often advisable for parties to seek the advice of experienced attorneys who can help navigate the legal process and negotiate a settlement if possible. You can call our Chicago partner dispute lawyers for a free consultation at 630-333-0333.

Client Reviews
I was referred to Peter Lubin from someone in the car business to handle a law suit. From the moment I made the appointment Peter and his staff were outstanding. This wasn't an easy case, most lawyers had turned me down. However, Peter took the time to meet with me and review everything. He took on the case, and constantly communicated with me about updates and case information. We beat this non-compete agreement case in record time. I would use him again and recommend him to my closest family and friends. 5 stars is not enough to thank him for his service. Sebastian R.
I worked on two occasions with Peter Lubin and his staff. They took their time with me and discussed each and every item in detail. The group makes you feel like you are part of the family and not just another hourly charge. I recommend Peter to anyone who asks me for a referral. If you are looking for a top notch attorney at a reasonable rate, look no further than Lubin Austermuehle. Kurt A.
Excellent law firm. My case was a complicated arbitration dispute from another state. Was handled with utmost professionalism and decency. Mr. Peter Lubin was able to successfully resolve the case on my behalf and got me a very favorable settlement. Would recommend to anyone looking for a serious law firm. Great staff and great lawyers! Albey L.
I have known Peter Lubin for over 30 years. He has represented me on occasion with sound legal advice. He is a shrewd and tough negotiator leading to positive outcomes and averting prolonged legal hassles in court. He comes from a family with a legal pedigree and deep roots in Chicago's top legal community. You want him on your case. You need him on your opponents case. He won't stop fighting until he wins. Christopher G.
Peter was really nice and helpful when I came to him with an initial question about a non-compete. Would definitely reach out again, recommended to everyone. Johannes B.