October 2011

A recent decision by the Brooklyn Surrogate’s Court in a fight over LLC assets highlights the interplay between the statute of limitations and the grounds for LLC dissolution as defined in last year’s appellate ruling in the 1545 Ocean Avenue case. The Surrogate’s Court case, Sealy v. Alston, is featured in this week’s New York Business Divorce.
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Continue Reading Statute of Limitations Issue Highlights Distinction Between Bases for Judicial Dissolution of LLCs Versus Other Business Forms

This week’s New York Business Divorce offers short summaries of three recent cases involving shareholder disputes. Two of them address procedural issues concerning venue and the court’s post-settlement enforcement power, and the third, well, you’ll just have to read it for yourself.
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Continue Reading Venue, Menu and Hebrew: Short Takes on Three Dissolution Cases

Earlier this month, in a case called Reichman v. Reichman, the Brooklyn-based Appellate Division, Second Department, reversed a lower court’s decision and granted a preliminary injunction in a bitter feud between father and son over the ownership of a dot-com business organized as an LLC. Don’t miss it in this week’s New York Business Divorce.
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Continue Reading Father May Not Know Best: Appeals Court Grants Injunction in Son’s Bid to Establish Majority Ownership of LLC

This week’s New York Business Divorce features a pair of recent decisions by New York and Delaware courts addressing disputes between accounting firms and departing partners over entitlement to buy-out payments. Both are highly interesting decisions, especially for anyone involved in drafting agreements for professional firms.
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Continue Reading New York and Delaware Courts Decide Disputes Over Accounting Firm Buyouts