No business will stay the same forever. At some point, even the most stable business will undergo a change. Owners, partners, or shareholders may leave. They may retire, relocate, become disabled, or change roles. Shareholder agreements may no longer reflect the business's needs. You may be forced to buy out a partner's share or cut a partner out for improper conduct.
In all of these cases, the business structure will need to be altered. That's where Hendershot, Cannon, Martin & Hisey, P.C. can help.
From the moment a client engages our help, he or she can rely on our seasoned knowledge, determination, and concern for getting the details right and protecting the viability of his or her business. The attorneys at Hendershot, Cannon, Martin & Hisey are committed to upholding our firm's tradition of high-quality service and representation in a broad spectrum of corporate matters, including business restructuring. Our experienced business lawyers in Houston have been handling complex, sophisticated issues for 150 years combined.
We serve clients throughout Texas and beyond. To arrange a consultation with an attorney experienced in business restructuring, please call (713) 909-7323 or fill out a simple online form.
Hendershot, Cannon, Martin & Hisey has experience with all types of business restructuring. When the relationships between a company's principals change, it necessitates a change in their business' structure. Our team has helped our clients handle such changes while protecting their interests.
This includes the following:
We also assist with restructuring the governance or operations plan of a business. Regardless of why you need restructuring or what sort of tools you will require, our Houston business lawyers can help you understand all of your available legal options. Further, our knowledgeable team will help you make a wise, informed decision from those options.
We deliver this level of service because we commit ourselves to providing clients with legal guidance tailored to their unique circumstances. We have represented clients of all sizes in all types of industries and structure types. After more than a quarter-century of assisting clients throughout the country with complex needs, our attorneys already understand what to look for and the questions to ask. Addressing this wide array of circumstances has enabled us to assist clients facing a number of difficult restructuring situations:
Our solutions are not a quick-fix either.
We are only interested in answers that strengthen your business in the short- and long-term. We will craft a solution that resolves current issues while positioning you to take advantage of future opportunities.
Our experience indicates that cooperative and amicable restructuring is often the most effective route, both in terms of financial impact and overall efficiency. We recognize that many times, however, a business can be restructured only after significant litigation or arbitration. In these situations, we can demonstrate our widely-recognized talents as true trial lawyers. When litigation becomes necessary, clients appreciate the comprehensive scope of our services. They need not recruit a new firm and spend the time and money necessary to get it up to speed. We are already where our clients need us to be-at their side, ready to protect their interests.
Because we represent clients in business restructuring transactions, as well as in litigation, our contested matter services bring to bear a fully informed perspective into the issues related to restructuring controversies. We understand and are well-versed in breach of fiduciary duty claims, the appointment of receivers, breach of contract, shareholder oppression, corporate takeovers, and other legal issues that could affect you down the road.
For example, consider one of our past clients:
Our firm represented a partner in a 50/50 shareholder agreement with a push-pull provision: one partner sets the price of a buyout and the other partner has a time window to buy or sell the partner's interest at the proposed price. Our client's partner put up property at a highly inflated price, which would have forced our client to sell his share of the business right as the business was preparing to increase in value.
Thanks to our help, our client didn't have to sell his share-instead, he was able to file suit and buy out the other partner. Now, he owns the business, which is currently flourishing. Because we understand the litigation and transaction aspects of business law, we are able to provide our clients with all the options they need to secure their future prosperity.
Our firm's vigorous and diversified business law practice reaches throughout Texas and across the United States. Both locally and nationally, our experienced business law attorneys advise clients with respect to their business's most sophisticated legal needs in all matters related to restructuring.
This varied experience provides us with the seasoned legal judgment that traditionally characterizes fine legal representation in complex business restructuring matters. It is this kind of seasoned judgment clients seek when they retain our firm-it means they will be advised by attorneys who know the law and how it works.
This judgment enables us to advise our clients intelligently, even when the law is unclear in business restructuring matters. Especially as the rights of shareholders in Texas continue to evolve after Ritchie v. Rupe, this kind of experienced legal judgment is rare.
To clarify what this case did to the Texas business landscape:
In Ritchie v. Rupe, a majority shareholder (Ritchie) refused to meet with outside buyers to facilitate the buyout of a minority shareholder's (Rupe) shares. The majority shareholders had a history of hostile treatment toward
Rupe, which is why she suggested a buyout. Their initial offer being far lower than the fair market value of her shares, she sought a better offer from outside the shareholders. She filed a lawsuit against Ritchie for his refusal to allow her to receive a fair price for her shares.
Rupe's lawsuit eventually found its way to the Texas Supreme Court-where they ruled that Ritchie was under no obligation to facilitate Rupe's buyout or help her get a fair price for her shares. The result severely limited what could be considered abuse of minority shareholders by the majority.
As businesspeople ourselves, we understand that the success of a dispute resolution is measured in part by its responsiveness to the resources available. Because we have traveled the business restructuring road on many occasions, we can help you understand your options and their consequences, both legal and financial. In short, our legal representation is as efficient as it is effective.
To arrange a consultation, call Hendershot, Cannon, Martin & Hisey, P.C. at (713) 909-7323 or contact us online.