Business divorce litigants ask all the time, “Can the company pay my legal fees?” In this week’s New York Business Divorce, the first in a two-part series, we take a look at ways in which closely-held business owners and managers may defend themselves with funds advanced or indemnified by the business.
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October 2019
LLCs as Nominal Parties in Dissolution Cases: An Uncertain Portal to Federal Court Jurisdiction
By Peter A. Mahler on
Posted in Federal vs. State Court, LLCs
Is an LLC a nominal party in dissolution proceedings such that its citizenship can be ignored for purposes of securing diversity jurisdiction in federal court? Get the answer in this week’s New York Business Divorce.
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The Perils of Indeterminate LLC Membership Interests
By Peter A. Mahler on
What do you get when you combine LLC membership interests determined by variable capital accounts with an off-the-shelf form operating agreement? Litigation, of course! Get the story in this week’s New York Business Divorce.
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Post-Valuation Date Distributions: Should They Be Credited Against Fair Value Awards?
By Peter A. Mahler on
Posted in Valuation
Should the fair value award in a judicial dissolution proceeding, following the respondent’s election to purchase and an appraisal proceeding, be reduced by post-valuation date shareholder distributions? Find out in this week’s New York Business Divorce.
Continue Reading Post-Valuation Date Distributions: Should They Be Credited Against Fair Value Awards?