{"id":2756,"date":"2017-04-13T13:48:54","date_gmt":"2017-04-13T17:48:54","guid":{"rendered":"https:\/\/www.lindabury.com\/firm\/?p=2756"},"modified":"2017-04-13T15:02:33","modified_gmt":"2017-04-13T19:02:33","slug":"new-jersey-courts-limited-imagination-resolving-business-disputes-partners","status":"publish","type":"post","link":"https:\/\/www.lindabury.com\/firm\/insights\/new-jersey-courts-limited-imagination-resolving-business-disputes-partners.html","title":{"rendered":"New Jersey Courts Are Limited Only By Imagination When Resolving Business Disputes Between Partners"},"content":{"rendered":"<p>When dealing with shareholder oppression claims the court has a broad arsenal of remedies at its disposal. In fact, the remedies available to the court are limited only by its own imagination and the court\u2019s sense of fairness.<\/p>\n<p>The statute applicable to oppressed minority shareholders does provide some remedies along with its rights. N.J.S.A. 14A:12-7 (1)(c)(8) states that \u201cUpon the motion of the corporation or any shareholder who is a party to the proceeding, the court may order the sale of . . . the corporation\u2019s stock held by any other shareholder who is a party to the proceeding to either the corporation or the moving shareholder . . . if the court determines in its discretion that such an order would be fair and equitable to all parties under all of the circumstances of the case.\u201d<\/p>\n<p>The statute also gives the court the power, under the appropriate circumstances, to order the dissolution of the company. Although this is a favored threat of a party claiming oppression, it is quite unlikely to be ordered by the court. The court is extremely reluctant to dissolve an operating business and will go the great lengths to preserve a business, including to the extent of ordering a sale of the business to a third party. At least one court has ruled that the statute contemplates the ongoing existence of the corporation or the existence of a successor operating the business as a requirement of any remedy that might be imposed. Thus, dissolution is likely to be the remedy only if the parties agree that it should be the ultimate remedy in the case.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.lindabury.com\/firm\/insights\/new-jersey-courts-limited-imagination-resolving-business-disputes-partners.html\"  title=\"Continue Reading New Jersey Courts Are Limited Only By Imagination When Resolving Business Disputes Between Partners\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>When dealing with shareholder oppression claims the court has a broad arsenal of remedies at its disposal. In fact, the remedies available to the court are limited only by its own imagination and the court\u2019s sense of fairness. The statute applicable to oppressed minority shareholders does provide some remedies along with its rights. N.J.S.A. 14A:12-7 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[99,65],"tags":[],"coauthors":[173],"class_list":["post-2756","post","type-post","status-publish","format-standard","hentry","category-pierce","category-insights"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New Jersey Courts Are Limited Only By Imagination When Resolving Business Disputes Between Partners &#8212; April 13, 2017 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. 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In fact, the remedies available to the court","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.lindabury.com\/firm\/insights\/new-jersey-courts-limited-imagination-resolving-business-disputes-partners.html","og_locale":"en_US","og_type":"article","og_title":"New Jersey Courts Are Limited Only By Imagination When Resolving Business Disputes Between Partners &#8212; April 13, 2017 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events","og_description":"When dealing with shareholder oppression claims the court has a broad arsenal of remedies at its disposal. In fact, the remedies available to the court","og_url":"https:\/\/www.lindabury.com\/firm\/insights\/new-jersey-courts-limited-imagination-resolving-business-disputes-partners.html","og_site_name":"Lindabury, McCormick, Estabrook &amp; Cooper, P.C. 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