QUESTION

Can a majority owner in an ltd. company sell without the minority owners consent?

Asked on Sep 20th, 2012 on Business Law - Ohio
More details to this question:
2 minority owners own 30% and 10% of the company
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1 ANSWER

Litigation Attorney serving Greenwich, CT
Partner at Hilary B. Miller
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The "default setting" is that anyone can sell anything they own. If there is a breach of fiduciary duty involved in the sale (which would depend on showing additional facts that you do not allege), it might be possible for the minority owners to have the majority owners disgorge a portion of his proceeds.
Answered on Sep 20th, 2012 at 9:57 PM

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