When 50/50 co-owners of a business are deadlocked on a major business decision, unless they have a written agreement that dictates a buy-sell process or appoints a “third director,” the unresolved deadlock may lead to litigation or even dissolution of the business entity. This episode of the Business Divorce Roundtable features an interview with arbitrator and mediator Erica Garay of Garay ADR Services, who proposes a novel solution: an arbitration clause that expressly delegates to the arbitrator the duty to break the deadlock by casting the deciding “vote”. Agree or disagree, tune in for a lively and thought-provoking discussion of an important topic in the world of business divorce.
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