Key Takeaways
- JV deadlocks occur when partners disagree on major decisions requiring mutual consent.
- Tiered resolution resolves most deadlocks without litigation.
- Creative solutions (refinance + deferred sale) can address both parties' concerns.
- Buy-sell provisions serve as the ultimate backstop.
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Test Your Knowledge
1.What is a "deadlock" in a JV?
2.What is the most effective deadlock resolution mechanism?
3.What should partners do proactively to prevent deadlocks?