October 2010

In Georgi v. Polanski, decided last month by Kings County Commercial Division Justice David Schmidt, the court addresses the right of a controlling LLC member to expel the non-controlling member upon his failure to comply with a capital call. It’s in this week’s New York Business Divorce.
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Continue Reading Not a Capital Idea: Making Unauthorized LLC Capital Calls

Last week I stopped by the courthouse in White Plains to watch the oral argument of the appeal by Paul “Junior” Teutul of American Chopper fame from the lower court’s decision on which I previously reported, compelling him to sell his shares in the custom motorcycle business to his father and television co-star, Paul “Senior” Teutul. Get the full story in this week’s New York Business Divorce.
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Continue Reading Court Hears Argument of Paul Jr.’s Appeal in American Chopper Buyout Dispute

Drinkers of AriZona Iced Tea will thirst for this week’s New York Business Divorce post on a dissolution petition filed last week in Nassau County Supreme Court by a 50% shareholder of the multi-billion dollar beverage maker headquartered in Woodbury, New York.
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Continue Reading 50% Owner of AriZona Iced Tea, Claiming Shareholder Oppression, Files for Involuntary Dissolution of Multi-Billion Dollar Enterprise

This week’s New York Business Divorce features a nuts-and-bolts issue concerning the limited availability of depositions and other discovery in corporate dissolution cases, prompted by a recent ruling on the subject by Nassau County Commercial Division Justice Timothy S. Driscoll in Matter of Kaufman (L.I. Yellow Cab Corp.).
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Continue Reading Do Not Take Pre-Trial Discovery for Granted in Corporate Dissolution Proceedings