Legal Question in Business Law in Illinois

C Corp partner

We have 3 shareholders in our c-corp, all have 1/3 interest. How do we go about getting one shareholder out of our company? The business is only 6 months old, and has no net worth yet, this partner has created conflict and been dishonest to the other shareholders and we want him out. What should we do?


Asked on 4/16/00, 9:28 am

1 Answer from Attorneys
Zedrick Braden III

Re: C Corp partner

If your unwanted partner is reasonable, you may offer to buy him

out. Otherwise, you and your other

shareholder could vote to dissolve

the corporation and then in about

a month, incorporate again under a

new name, without Mr. Troublesome.

I hope my comments are helpful.

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Answered on 4/29/00, 4:05 pm


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