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Firm Resolves Contested Business Dissolution

Dissolution of a business can be as emotional as a divorce. Two individuals who had been co-owners of a business for more than 25 years disagreed as to the future course of the business, and one of them submitted his resignation. The other owner claimed that the resigning owner had violated an agreement not to compete with the business. The resigning owner contended that the business had failed to pay for his shares, relieving him of the obligation not to compete. A judge denied a temporary restraining order against the resigning owner, but the Illinois Appellate Court reversed. After several months of litigation, Matt Flamm negotiated an agreement allowing the resigning owner to be paid for his shares and to operate his new business.


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