Advising Clients in Wind-Downs, Separations and "Business Divorce": How to Use ADR and Other Tools to Steer Business Owners Through a Break-Up of a Closely-Held Business [CC]

Advising Clients in Wind-Downs, Separations and "Business Divorce": How to Use ADR and Other Tools to Steer Business Owners Through a Break-Up of a Closely-Held Business [CC] — CLE 90 min

This showcase program will consist of a panel discussion on how to advise clients going through a break-up or wind-down of a closely-held company. The discussion will start with a consideration of the different ways businesses wind-down and owners go their separate ways, and then it will turn to a case study that focuses on resolution of a contentious bust-up of a family business. This case study focuses on crystalizing issues for resolution and using the ADR process to identify whether there are issues in which middle ground could be sought. The case study will begin with the parties having done the work through mediation to settle in principle a contentious dispute between family owners of three private companies. In principle, the mediation resolution was for the majority owning family to buy-out the other family’s interests, subject to negotiation of the terms of a written settlement agreement. However, during the negotiation of the final settlement agreements which include M&A transaction deal components, internal and external forces arise including the business effects of the COVID pandemic and its aftermath, and new disputes arose regarding terms involving earn-outs, material adverse change, and selection of valuation date. The panel will discuss pertinent process and substantive issues, including: - How to draft settlement documents to select ADR as the sole or initial method of dispute resolution to avoid litigation arising from the settlement, - Which settlement agreement negotiation disputes might be more suited for mediation or arbitration, - Whether an independent subject matter expert, on substantive non-legal issues, such as valuation or operations, as an advisor to the mediator might be helpful - Winding down the business during the pandemic due to material adverse change - Diverse earn-out and valuation date disputes - How to enforce or challenge the outcome of the ADR process through judicial proceedings.

1.50 total credit hours including

General

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Approved

1.50 credit hours

Available until:

09/23/2024

1.50 total credit hours including

General

Status:

Available for credit

1.50 credit hours

Available until:

09/23/2024

1.50 total credit hours including

Substantive Law

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Available for credit

1.50 credit hours

Available until:

09/23/2024

1.50 total credit hours including

General

Status:

Approved

1.50 credit hours

Available until:

09/23/2024

2.00 total credit hours including

General

Status:

Approved

2.00 credit hours

Available until:

12/31/2023

1.50 total credit hours including

General

Status:

Available for credit

1.50 credit hours

Available until:

09/23/2024

1.50 total credit hours including

General

Status:

Applied for upon completion

1.50 credit hours

Available until:

12/31/2023

1.50 total credit hours including

General

Status:

Approved

1.50 credit hours

Available until:

09/23/2024

1.50 total credit hours including

General

Status:

Self apply

1.50 credit hours

Available until:

09/23/2026

1.50 total credit hours including

General

Status:

Approved

1.50 credit hours

Available until:

12/31/2023

1.50 total credit hours including

General

Status:

Self apply

1.50 credit hours

Available until:

09/23/2024

1.50 total credit hours including

General

Status:

Applied for

1.50 credit hours

Available until:

09/23/2024

1.80 total credit hours including

General

Status:

Available for credit

1.80 credit hours

Available until:

09/23/2024

1.50 total credit hours including

General

Status:

Self apply

1.50 credit hours

Available until:

09/23/2024

1.50 total credit hours including

General

Status:

Self apply

1.50 credit hours

Available until:

09/23/2024

1.50 total credit hours including

General

Status:

Available for credit

1.50 credit hours

Available until:

09/23/2024

1.80 total credit hours including

General

Status:

Reciprocity

1.80 credit hours

Available until:

09/23/2024

1.50 total credit hours including

General

Status:

Approved

1.50 credit hours

Available until:

09/23/2026

1.50 total credit hours including

Areas of Professional Practice

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Approved

1.50 credit hours

Available until:

09/23/2024

1.50 total credit hours including

General

Status:

Applied for upon completion

1.50 credit hours

Available until:

12/31/2023

1.50 total credit hours including

General

Status:

Approved

1.50 credit hours

Available until:

09/23/2024

1.50 total credit hours including

General

Status:

Approved

1.50 credit hours

Available until:

09/23/2024

2.00 total credit hours including

General

Status:

Applied for

2.00 credit hours

Available until:

09/23/2024

1.50 total credit hours including

Substantive

Status:

Available for credit

1.50 credit hours

Available until:

09/23/2024

1.50 total credit hours including

General

Status:

Self apply

1.50 credit hours

Available until:

09/23/2024

1.50 total credit hours including

General

Status:

Available for credit

1.50 credit hours

Available until:

09/23/2024

1.50 total credit hours including

General

Status:

Self apply

1.50 credit hours

Available until:

09/23/2024

1.50 total credit hours including

General

Status:

Applied for

1.50 credit hours

Available until:

09/23/2024

1.50 total credit hours including

General

Status:

Approved

1.50 credit hours

Available until:

09/23/2024

1.80 total credit hours including

General

Status:

Approved

1.80 credit hours

Available until:

09/23/2024

1.50 total credit hours including

Law & Legal Procedure

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Approved

1.50 credit hours

Available until:

09/23/2026

1.80 total credit hours including

General

Status:

Applied for

1.80 credit hours

Available until:

09/23/2024

1.50 total credit hours including

General

Status:

Self apply

1.50 credit hours

Available until:

09/23/2024

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Closed Captioned.

Panelists

Byeongsook Seo, Ingeuneal C Gray, James P O'Sullivan, Janel Dressen, John Levitske, Leslie Ann Berkoff

Sponsors

Business Law Section

Co-sponsors

Business Bankruptcy, Business and Corporate Litigation, Commercial Finance, Dispute Resolution, Judges Initiative, LLCs, Partnerships and Unincorporated Entities, Middle Market and Small Business, Young Lawyer

Product Code

CL2109VSAM3OLC

Duration

90

Publication Date

9/24/2021 12:00:00 AM

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