As New York’s Suffolk County continues to grow its population and economy, so too grows the volume and complexity of business litigation in the courts of Suffolk County Supreme Court. This week’s New York Business Divorce focuses on the Suffolk County Commercial Division, with a sampling of three recent decisions of interest by Justices Emerson, Pines and Whelan involving shareholder disputes.
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May 2013
Form K-1s Do Not Always a Shareholder Make
By Peter A. Mahler on
Posted in Dissolution Defenses, Standing
“Is she or isn’t she a shareholder? Only her tax preparer knows for sure.” It may not be quite as catchy as the famous Clairol commercial, but it’s a good entreaty to read this week’s New York Business Divorce highlighting a recent appellate ruling in a dissolution case in which the petitioner unsuccessfully relied on tax returns to prove his shareholder status.
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Whose Lawsuit Is It Anyway?
By Peter A. Mahler on
A recent decision by Westchester Commercial Division Justice Alan D. Scheinkman in Briarcliff Solutions Holdings, LLC v. Fifth Third Bank (Chicago) takes the spotlight in this week’s New York Business Divorce, featuring a battle for control of the company’s Board of Directors and, ultimately, control of a lawsuit asserting claims against one ownership faction. Don’t miss it. …
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Who Wants to Be a Minority Shareholder of a Delaware Closely-Held Corporation?
By Peter A. Mahler on
For a variety of reasons, many closely-held corporations in New York and elsewhere choose to incorporate in Delaware. A Delaware Chancery Court decision last week, in Blaustein v. Lord Baltimore Capital Corp., serves as a good reminder of the perils of Delaware incorporation to minority shareholders. Learn more in this week’s New York Business Divorce.
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