Virginia law recognizes that, in certain extreme situations, a Virginia court may judicially dissolve a legal entity such as a corporation or a limited liability company. One of the bases for dissolving a corporation through a court proceeding is when “the directors or those in control of the corporation have acted, are acting, or will act in a manner that is illegal, oppressive, or fraudulent” or when “the corporate assets are being misapplied or wasted.”
Minority owners, shareholders, or members of a corporate entity, such as a corporation or a limited liability company, do not have power to control how the entity is managed. For this reason, minority owners are at risk for being treated unfairly by those who are in control. That unfortunate reality is what the law of Virginia recognizes, when it provides a way to judicially dissolve a corporate entity.
Here at The Mottley Law Firm, we have a practice area dedicated to representing minority shareholders (owners) of legal entities who feel they’re being oppressed and unfairly treated by the persons who control the entity.
If you believe that you have been the victim of corporate directors and control persons who are acting illegally, fraudulently, oppressively, or in a way that is unfair to the minority owners, you owe it to yourself to consult with an experienced attorney in this area of the law. Here at The Mottley Law Firm, we have many years of experience in this area, and would be glad to speak with you about your situation. Please reach out to us for a consultation by calling the number on this website, filling out one of the contact forms here, or chatting with one of our representatives in the chat box on this website.
