Legal Question in Business Law in Hawaii

Where to start?
Currently my father owns a business that was passed down from my grandpa. My father has an equal number of shares as my uncle. They have three sisters, who all have the remaining shares. My uncle (who is severely in debt) is now trying to force my father to sell his shares of the business. He keeps threatening to take my father to court over the issue. The sisters refuse to get in the middle. I want to help my father make the best decision and know his rights. I want to know if my uncle can legally take him to court in a situation where they equally own something and my father does not want to sell his share. Is there anything that can be done to get my uncle to leave my father alone without my dad having to sell his business or go into severe debt buying out my uncle? Thanks!!

Asked on 3/29/08, 8:07 pm

Michael Hendrickson Law Office Michael E. Hendrickson

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Re: Where to start?

On what legal theory would your uncle be able to force a sale of a solvent business in which he is apparently only a minority shareholder?

I don't know of any. (His remedy is to find a buyer for his shares rather than attempting to force a sale of the business.)

Answered on 3/30/08, 11:34 am

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