DLEC attorneys Phil Zisook, Lee Farbman, and Anda Tatoiu recently prevailed in the Illinois Appellate Court, representing our client, a local dentist, in a case relating to the dissolution of his prior dental practice. At issue were (i) whether the dental practice and its remaining principal, had to compensate our client for his stock in the corporation; (ii) the value of our client’s stock; (iii) whether or not a covenant not to compete contained in a shareholders agreement remained operative; and (iv) whether our client was entitled to severance pursuant to his employment agreement.
After a week-long arbitration proceeding we prevailed on each of these issues. When the respondents did not voluntarily pay the arbitration award, we filed a petition to confirm the award in the Circuit Court of Cook County and prevailed in that proceeding. The respondents appealed to the Illinois Appellate Court and on August 5, 2016, the court issued a published decision affirming the decision of the Circuit Court, and again ruling in favor of our client. A copy of the decision can be accessed here. The Chicago Daily Law Bulletin reported on the Court’s decision and the article can be accessed here. For more information, please contact Phil Zisook, Anda Tatoiu, or Lee Farbman.