Alan S. Pralgever, a partner in the firm’s Litigation Department, will speak at the seminar “Breaking Up is Hard to Do – Guiding Your Clients Through a Business Divorce in 2019 & Beyond,” to be presented by the New Jersey Institute for Continuing Legal Education on Wednesday, September 18, 2019 from 9:00am – 1:00pm at the New Jersey Law Center.
Rifts develop among business partners/owners for many reasons, and difficult economic times tend to exacerbate this phenomenon. Disputes can escalate quickly, diverting the parties’ attention from the operation of the business, damaging employee morale, and spawning costly lawsuits that can leave a company in financial ruin and under the supervision and management of a fiscal agent or custodial receiver.
From advance planning to immediate triage, this program will provide a solid understanding of the many scenarios that can occur when things go wrong in a closely held business, and will address the best ways to move ahead when the parties need to “divorce.”
Strategies and key insights to be provided in this seminar include:
- Common reasons for a business divorce
- Special considerations in family owned businesses
- Strategies for better communication among owners to amicably settle disputes and prevent breakups
- Buy-sell agreements (the business “pre-nup”)
- Commencing an action by way of an order to show cause
- Protections afforded a minority member of a limited company or a minority shareholder in a closely held corporation
- Oppression and freeze out claims
- Tax considerations
- Perspective from the Bench
Mr. Pralgever concentrates his practice in business and commercial litigation, with a special focus in corporate, partnership and LLC split-ups and dissolutions, condominium matters and representation of associations, estate litigation, employment issues, consumer fraud act litigation, real estate and intellectual property disputes. He has handled a wide variety of complex commercial and corporate litigation in state and federal courts, as well as arbitrations in both New Jersey and New York. He is certified by the New Jersey Superior Court as a civil mediator.