Insolvency & Shareholder Disputes

Shareholder and other Equity Owner Disputes

Rhode Island has a complex statute which governs most equity owner disputes.

Because of their extensive experience representing stockholders and members embroiled in owner disputes. The attorneys at Orson and Brusini Ltd. can help owners navigate this statute and work toward a successful resolution. Depending on the facts in the case, strategies may include: 

• Attempting to force an adverse owner to sell his or her stock or membership interest.
• Attempting to force an adverse owner to buyout a client’s stock or membership interest at fair value and without any minority or other discount.
• Seeking the appointment of a receiver to liquidate the assets of the company and distributing the proceeds to the owners after paying off creditors.

The attorneys at Orson and Brusini Ltd. also have extensive experience asserting claims on behalf of shareholders and members, including derivative claims, claims for breach of fiduciary duty and claims for malfeasance and negligence.

Business Insolvency

Orson and Brusini Ltd. regularly represents all parties to federal bankruptcies, state court receiverships and out of court restructures in Rhode Island and Massachusetts. This includes corporate entities, shareholders and secured creditors. Theodore Orson and Giovanni La Terra Bellina, in combination, have also been appointed receiver, special master or ancillary receiver of more than 50 companies in Rhode Island, Massachusetts and Connecticut. The firm has represented the State of Rhode Island or its departments in major hospital insolvencies, including the special masterships of Landmark Medical Center and The Westerly Hospital.

Municipal Insolvency

Orson and Brusini Ltd. was lead insolvency counsel to the Central Falls receiver and the State of Rhode Island in the Chapter 9 bankruptcy of the City of Central Falls. In that case, Central Falls went from a fiscal disaster to fiscally stable in just 13 months. This was just the second Chapter 9 case of a city since 2000 and it garnered significant national attention. Mr. Orson is regularly sought to comment on municipal insolvency by the national and international press, including The New York Times, The Wall Street Journal, The Bond Buyer and the British Broadcasting Corporation. Mr. Orson is also widely published and is invited to speak on panels nationwide on the subject of Chapter 9.