NJ Limited Partner Liability: Can a Limited Partner be Held Liable for a Limited Partnership’s Debts? In limited circumstances the answer is “yes”. Under New Jersey’s Uniform Partnership Law a limited partner is protected from liability from the limited partnership’s obligations except in two instances: (1) Where the limited partner i ... Read More.
New Jersey protects the interest of minority shareholders in closely held corporations under the Oppressed Minority Shareholder Statute, N.J.S.A. 14A:12-7. A "closely held" corporation is one in which there are 25 or less shareholders. N.J.S.A. 14A:12-7(1)(c). Specifically, N.J.S.A. 14A:12-7(1)(c) safeguards minority shareholders from “oppressi ... Read More.
Like married couples, business partners sometimes go through divorces. Whether there are allegations of minority oppression, embezzlement, fraud or simply the parties can no longer work together, as attorneys, we must quickly identify the pertinent legal issues at hand in order to guide our clients through this confusing and often complicated pro ... Read More.