Whatt o do if my father left me stock in a privately held tire company and I have been trying unsuccessfully to liquidate my shares?

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Whatt o do if my father left me stock in a privately held tire company and I have been trying unsuccessfully to liquidate my shares?

How can I get them to liquidate.

Asked on December 11, 2012 under Estate Planning, Hawaii

Answers:

Catherine Blackburn / Blackburn Law Firm

Answered 8 years ago | Contributor

You may not be able to liquidate the shares.  Shares in a privately held company are not necessarily liquid.

You need to look at the current Articles of Incorporation and Bylaws of the company to see what you can do with the stock.  As a shareholder, you are entitled to these documents, so request them.  If the current operators of the company believe you will cause trouble for them, they may be willing to buy your stock.  Holding the stock may give you some management rights and that would cause trouble for the current operators.  The Bylaws may even provide that the company must buy your shares.  The point is to find out what you can do that will persuade the other stockholders or the company to just buy you out.

Good luck.


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