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Archives for August 2014

August 20, 2014 by Bob Sauro

Step Into What Crossfire?

Step Into What Crossfire?

Business split-ups are often among the hardest experiences that an entrepreneur can go through. Board deadlocks often precede split-ups. A number of states’ laws have provided for what are known as “provisional directors” in case of Board deadlock. Woe to the corporation with an even number of Board members! A provisional director is an independent, neutral third party – a “voice of reason” -- who is willing to become the swing vote on an otherwise deadlocked Board. Like an arbitrator and mediator combined into one. The idea was and is that ... Read More »

Filed Under: Business Split-Ups

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