12 Court-Ordered Remedies Available to Oppressed Shareholders in Illinois
Facing a Freeze-Out? What Illinois Law Offers Minority Owners Key Takeaways: Illinois’s Business Corporation Act of 1983, Section 12.56 (805 ILCS 5/12.56), gives courts broad authority to protect shareholders of closely held corporations from oppression, deadlock, and waste. Shareholders may bring claims when directors or shareholders are deadlocked, when those in control act illegally, oppressively, […]