June 2010

This week’s New York Business Divorce revisits an important topic, involving mandatory stock buybacks triggered by the filing of a dissolution petition, prompted by a recent decision by an upstate appellate court in Matter of Stevens (Allied Builders, Inc.).
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Continue Reading Appellate Court Rejects Mandatory Stock Buyback Triggered by Dissolution Petition

Many shareholder and operating agreements provide redemption rights at a price stated in an appended certificate of value which is supposed to be updated periodically but often is not. A recent decision by Justice Stephen A. Bucaria addresses potential liability when the certificate of value is not timely updated. Learn more in this week’s New York Business Divorce.
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Continue Reading The Stakes Just Went Up for Failing to Update Certificate of Value

The Appellate Division, Second Department last week affirmed the key rulings by Justice Ira Warshawsky in the Murphy v. U.S. Dredging valuation case, including his application of a marketability discount to entire enterprise value rather than limiting it to good will. Learn more in this week’s New York Business Divorce.
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Continue Reading Ruling on Valuation Discounts for Marketability, Built-In Gains Tax Ends Rift Among New York Appellate Courts

The venerable, closely-held business corporation may be on its last legs. Looking at some recently published statistics on new entity filings, it’s clear that the young upstart, the limited liability company, has already far surpassed its elder. So why does New York lag behind the rest of the country in the LLC revolution? It’s in this week’s New York Business Divorce.
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Continue Reading Statistics Show New York Lagging in the LLC Revolution