JustAnswer > Legal
Ask A Question|Register|Login|Help
JustAnswer

Law

Ask a Legal Question, Get an Answer ASAP!

Have your own Legal question?

14 Lawyers are Online Now
characters left:
Not a Legal Question?
Bookmark and Share

Question

I am a 1/3 minority owner of a LLC of a small courrier company and I was "fired" by the majority 2/3 owner. Q: Is there any case law that will support an owner "firing" another owner. My understanding is that I am an owner and a shareholder - neither can be "fired." This isn't wrongful termination; this is someone is has decided to "fire" me without acknowledging my legal status. (I think!)

Submitted: 33 days and 7 hours ago.
Category: Legal
Value: $38
Status: CLOSED
+
Read More

Optional Information



Already Tried:
I have no means for an attorney and my brother and I are attacking this matter is small claims court as having been denied access to the company, due to the "firing/lockout." We have made a claim on the loss of my officer salary. We can't find anything that supports the "firing of an owner/shareholder." The best that we understand: An owner or sharehold would have to be bought out - at the very least. (That's kind of the long and the short of it.)

Posted by INFOLAWYER 33 days and 6 hours ago.

Info Request

What state is this in?

33 days and 6 hours ago.

Reply

Please procede. I accept the initial charge of $38.00.

Posted by INFOLAWYER 33 days and 6 hours ago.

Info Request

Thank you. That is on deposit. I asked what state is the llc in?

33 days and 6 hours ago.

Reply

The LLC is in Maryland.

Accepted Answer

The answer to your question is not a case law answer but depends on the operating agreement which normally permit most decision to be conducted on vote in accordance with the operating agreement and require majority vote. If a member is deprived of equity, he has a claim for compensation relative to ownership interest and can move to dissolve the llc to liquidate it or be bough out.

Picture
Expert: INFOLAWYER
Pos. Feedback: 97.0 %
Accepts: 
Answered: 10/19/2009

Lawyer.

Licensed attorney helping individuals and businesses with their legal questions

33 days and 6 hours ago.

Reply

Okay. But, the claim made against the majority owner is: An owner cannot fire another owner out of hand. There was no discussion. No board meeting. Nothing. The door was simply locked and the majority owner considered it "case closed." The pending matter in small claims court, because that's the only venue we can work in at this time, is based on ownership, shareholder, and loss of Officer Salary. This case has been deliberately set up to be focused on loss of salary and the lockout. I know that there are other cases that could follow this case. Your answer goes to the fact that the member, who was denied equity, would be able to go against the company for dissolution or buy out. Is that an accurate summarization of your explanation and my best explanation of what I understand?

Accepted Answer

That is correct. The member can pursue a claim through a lawyer, by negotiation and lawsuit in that order for dissolution, rescission of the illegal decision, or to be bought out.

Picture
Expert: INFOLAWYER
Pos. Feedback: 97.0 %
Accepts: 
Answered: 10/19/2009

Lawyer.

Licensed attorney helping individuals and businesses with their legal questions

+
Read More

Related Legal Questions

  • I want to relocate my Dad and Grandfather to another nurial ...
  • I live in Monroe County, MI. I have nine year old twin
  • A mortgage company unethically expanded our home equity ...
  • what happens now that the federal or civil courts has sent ....
  • If I buy a shirt retail, and add decorations to it, can I .....
  • who is responsible for the cost of repair?
  • i emailed a dealership just outside atlanta ga. about a ...
  • i work with someone now who has admitted he has had ...



Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.
Question List | Become an Expert | Terms of Service | Security & Privacy | About Us
© 2003-2009 JustAnswer Corp.