This week’s New York Business Divorce examines an intriguing case involving an LLC whose operating agreement required a member to transfer his interest to the other members because of his filing of a divorce action against his wife. When the divorcing member refused to do so, he bought himself a second divorce litigation, of the business kind.
Continue Reading LLC Member’s Marital Woes Lead to Loss of Membership Interest
May 2008
Statute and Cases Create Uncertainty Over LLC Member’s Right to Inspect Books and Records
By Peter A. Mahler on
The LLC Law gives members certain rights to inspect company records. Read this week’s New York Business Divorce to find out how courts have taken different approaches to the issue.
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Continue Reading Statute and Cases Create Uncertainty Over LLC Member’s Right to Inspect Books and Records
Court Grants Specific Performance of LLC Members’ Buy-Sell Agreement
By Peter A. Mahler on
Posted in Family-Owned Businesses, LLCs
This week’s New York Business Divorce tells a cautionary tale about the perils business owners face when they negotiate a buy-sell agreement without counsel. Read about a recent case in which a court found a binding agreement based on an exchange of letters.
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Continue Reading Court Grants Specific Performance of LLC Members’ Buy-Sell Agreement
Court Refuses to Apply Marketability and Minority Discounts in Valuing Deceased Partner’s Interest
Is there a difference in determining the “value” of a partnership interest under Partnership Law Section 73 and the “fair value” of a stock interest under the Business Corporation Law? This week’s New York Business Divorce looks at a recent New York appellate decision that answers the question in a dispute over application of discounts for lack of control and lack of marketability.
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Continue Reading Court Refuses to Apply Marketability and Minority Discounts in Valuing Deceased Partner’s Interest