(Chicago, IL) When the CEO of a long-time Chicago business first engaged Practus, it is because he thought he needed to sue his partner. Our attorneys have considerable experience in business litigation issues. Although their business had weathered decades of changing economic times, the relationship between the two owners had severely frayed. The client’s position was that his only options were to dissolve the business or sue his partner.
Everyone Back to the Table
We took a comprehensive approach. Yes, litigation was the original option. But with our background in business, working with businesses, and strategic approach we were able to outline other solutions for our client. In this case, we threatened litigation and that resulted in the other side coming back to the table. We now faced each other as parties ready to negotiate a transaction instead of as adversaries preparing to sue each other.
From Suing to Selling: Time for Maxi Lyons
Back from the precipice of a lawsuit, we now focused on selling our client’s interest in the business. Our team brought in Maxi Lyons to structure a comprehensive divestiture transaction. She tailored the transaction to ensure an orderly business separation that preserved each principal’s legacies and their long-held personal relationships.
More than Resolving a Dispute
This is what we call a win-win-win result. It highlights the critical role of serving not just as lawyers but as counselors. Practical, human, and business concerns must be woven into the legal framework to restore balance and drive positive outcomes for our clients. These parties stood on the verge of a business disaster leaving both parties with no positive outcome. But as counsel we shaped a transaction that did more than resolve a dispute – it preserved relationships, protected financial interests and created a path forward for everyone involved. This is what we do as a firm – solve problems.
