Business Disputes Are Twice as Ugly When It’s a Family Business
Business ventures necessarily involve risk. By engaging in business activities, you are accepting that things may not go according to plan, and you and your business partners will have to quickly make decisions that will result in the least amount of financial losses. It works best if you and your business partners can detach yourselves emotionally from the financial decisions. Act in the company’s interest like it is your own money, but don’t take the losses personally because they are not your personal debts; granted, it is easiest to do this if you have an LLC business structure. Meanwhile, no one can push your buttons like your family, whether it is about money or anything else. With family businesses, the successes are twice as sweet, but the disputes are twice as bitter. A Washington, D.C. business dispute lawyer can help you resolve disputes with your business partners, even if they are your family members.
Feuding Sons of Baltimore Orioles Owner Drop Lawsuits Against Each Other
The feud between John and Louis Angelos, the sons of Baltimore Orioles owner Peter Angelos, has been a frequent subject in local news headlines in recent years. Peter Angelos, now 93 years old, has been at least a partial owner of the Orioles since 1993, but since 2017, he has been too ill to be actively involved in the team’s management. Therefore, his two sons and their mother Georgia have been more actively involved in the team’s operations. Eventually, a rift occurred between Louis on one side and John and Georgia on the other, eventually resulting in lawsuits by each brother against the other.
Over the course of the years-long legal battle, these are some of the allegations that have emerged:
- Louis accused John and Georgia of using tens of million dollars of their personal wealth to buy additional shares of the team.
- Louis accused John of plotting to sell the team to the highest bidder, even if that meant moving the Orioles out of Baltimore.
- John accused Louis of emotionally and abusing their father Peter by isolating him from the rest of the family.
In February 2023, John and Louis agreed to drop all of their lawsuits against each other. It appears that the brothers reached a settlement outside of court, but the details of the settlement were private, and news sources did not have any information about them.
Being involved in a court battle with your own sibling is one of life’s most unpleasant experiences, but legal disputes are a common occurrence in business. With the help of a business dispute lawyer, it is usually possible to reach an agreement with your family member turned business partner, before a judge has to rule in favor of one of you and against the other.
Contact Us About Family Business Disputes
A Washington, D.C. business dispute attorney can help you settle legal disputes that have arisen within your family business, with or without going to court. Contact Tobin, O’Connor, and Ewing in Washington, D.C. or call 202-362-5900.