Contributors: Marc Pawlus & Adam Maxwell, Tedd Warden
Insured buy-sell agreements have long been a key component for succession planning for closely held businesses. A buy-sell agreement is a legal contract that sets forth the terms for the transfer of a deceased owner’s share of the company on death.
As we discussed in our July 16, 2024 bulletin update, a Texas judge issued an opinion blocking the Federal Trade Commission’s (“FTC”) Rule which had been set to take effect September 4, 2024 banning most employment non-compete agreements. That decision limited the injunction to the plaintiffs filing suit in Ryan, LLC v. FTC, No. 3:24-CV-00986 (N.D. Tex.).
On July 23, SFBBG Attorneys Monica Shamass and Marc Pawlus appeared before the Yorkville City Council to voice concerns over the annexation and rezoning of farmland directly adjacent to our client’s property.