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Category Archives: Partnership Disputes

West Palm Beach Business Litigation Attorney 2023-01-26 16-48-30

The Golden State Warriors Named In Class Action Lawsuit Over Partnership With FTX

By Michael Pike and Daniel Lustig |

CNBC reports that FTX founder Sam Bankman-Fried was arrested in The Bahamas on December 12th, 2022 on a wide range of criminal charges. Mr. Bankman-Fried and the company stand accused of swindling investors out of more than $8 billion. Civil lawsuits have already been filed—and some relief defendants have been named, including the NBA’s… Read More »

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West Palm Beach Business Litigation Attorney 2023-01-26 16-48-30

Partnership Law: Four Examples Of Self-Dealing

By Michael Pike and Daniel Lustig |

In Florida, a business partnership is governed largely by the terms of the voluntarily-agreed upon partnership agreement. Though, Florida does have a partnership law statute. Under Florida Statutes § 620.8404, business partners owe each other a “duty of loyalty.” Self-dealing constitutes a breach of the duty of loyalty. What exactly is self-dealing? Broadly speaking,… Read More »

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How Are Disputes Over Ambiguous Terms In A Partnership Agreement Resolved?

By Michael Pike and Daniel Lustig |

Commercial disputes are complicated—especially so when the parties to the dispute are business partners. A partnership agreement is supposed to bring clarity to the relationship. What happens if the partnership agreement has ambiguous terms? Within this article, our West Palm Beach partnership dispute lawyer explains how disputes over ambiguous terms are resolved in Florida… Read More »

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St. Louis Law Partners Locked In Legal Dispute Over Alleged Breach Of Fiduciary Duty

By Michael Pike and Daniel Lustig |

According to a report from the St. Louis Post Dispatch, two partners at the Missouri-based law firm of Schlichter, Bogard and Denton are locked in a partnership dispute over an alleged breach of fiduciary duty. The St. Louis Post Dispatch states that the plaintiff, Roger Denton, has sued his partner, Jerry Schlichter, for allegedly… Read More »

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Delaware Court Of Chancery Dismissed Partnership Lawsuit, Upholds Arbitration Agreement

By Michael Pike and Daniel Lustig |

The Delaware Court of Chancery has upheld a pre-dispute arbitration provision in the case of Wildfire Productions, L.P. v. Team Lemieux LLC and Lemieux Group—a partnership dispute involving the owners of the Pittsburgh Penguins of the National Hockey League (NHL). The court emphasized that the Federal Arbitration Act (FAA) strongly favors the enforceability of… Read More »

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What Happens If Business Partners Disagree About The Interpretation Of The Partnership Agreement?

By Michael Pike and Daniel Lustig |

If you are in a business partnership in Florida—whether it is a General Partnership (GP), Limited Partnership (LP), Limited Liability Partnership (LLP), or Limited Liability Limited Partnership (LLLP)—you should have a written partnership agreement. A partnership agreement is a contract from which the majority of your rights and responsibilities are derived. This raises an… Read More »

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How Does An Attorney Help To Resolve A Partnership Dispute In Florida?

By Michael Pike and Daniel Lustig |

Business partners rely on each other to operate their joint business with care, attention, and skill. A dispute between partners in business can emerge for a wide range of reasons—from disagreements about the finances to differing visions for the future of the company. With partnership disputes, a proactive approach is critical. The right lawyer… Read More »

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What Should You Do If A Business Partner Breaches Their Fiduciary Duty In Florida?

By Michael Pike and Daniel Lustig |

A dispute with a business partner is never easy to navigate. There can be a lot on the line—both personally and professionally. If you believe that your business partner breached a fiduciary duty, it is imperative that you know your rights and your options. Here, our Miami partnership dispute lawyer discusses the things to… Read More »

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Can A Partner In A Business In Florida Also Be Considered An Employee Of The Company?

By Michael Pike and Daniel Lustig |

Business partners rely on each other to work towards building a strong and successful company. A partnership in Florida may also rely on the contributions of others, including the employees that they hire. You may be wondering: Can a partner in a business partnership also be an employee in Florida?  The technical answer is… Read More »

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How Can A Buyout Agreement Help Prevent & Resolve Partnership Disputes In Florida?

By Michael Pike and Daniel Lustig |

Partnerships can be efficient and effective business entities. Partners in business are required to put a lot of faith in each other. The sudden death, disability, or retirement of a business partner is a high risk period for disputes. A buyout agreement is one of the most useful tools for preventing and resolving these… Read More »

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