In this week’s New York Business Divorce, we go step-by-step through a tricky process, confusing to many: the procedures leading up to the commencement of a fair value appraisal proceeding.
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Franklin C. McRoberts
The Law Firm “Partner”- A Rose by Any Other Name . . .
By Franklin C. McRoberts on
If a Schedule K-1 lists you or your client as a “general partner” and 2% owner of a partnership, is that the end of the story for proving ownership status? This week, we consider that question in the context of a long-running litigation between a well-known insurance litigation firm and its former “partner” over his standing to sue to dissolve the business.…
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A Pig in a Poke: The Rollercoaster Kadosh Settlement Litigation
By Franklin C. McRoberts on
In this week’s New York Business Divorce, a wild tale of a settlement achieved, settlement spurned, and a litigant threatened with incarceration for contempt in an intensely bitter, nine-year battle between two brothers over their Manhattan-based real property LLC.…
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Sue for Dissolution – Get Sued for Defamation?
By Franklin C. McRoberts on
Posted in Family-Owned Businesses
If you bring a business divorce case, do you unwittingly expose yourself to a countersuit for defamation? A recent decision addresses that question in the context of withdrawn petitions by two brothers against their uncle to dissolve three family-owned businesses in this week’s New York Business Divorce.…
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A Fresh Take on an Old Doctrine – The “Adequate, Alternative Remedy” to Dissolution
By Franklin C. McRoberts on
When shareholders enter into a written agreement governing the terms for a buyout of their stock, to what extent must courts hold a hearing to determine if the agreement provides an “adequate” alternative to dissolution? In this week’s New York Business Divorce, a Manhattan appeals court considers this important question in the context of an epic, 12-year litigation over the value of shares of stock in a Bronx funeral home.…
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A Fond Adieu to Two Giants of the Manhattan Commercial Division Bench
By Franklin C. McRoberts on
In this week’s New York Business Divorce, a tip of the hat to retiring Justices Eileen Bransten and Charles E. Ramos with a look back at some of their more memorable business divorce rulings.…
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When Dealing in Partnership Owned Real Property, Caveat Emptor
By Franklin C. McRoberts on
In this week’s New York Business Divorce, read about how dissenting general partners can potentially wreak havoc on partnership real property sales, and how buyers can protect themselves from judicial invalidation of their transactions.…
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Accounting Unchained: Is the Closely Held Business Owner’s Right to an Accounting Absolute?
By Franklin C. McRoberts on
In this week’s New York Business Divorce, we focus on the oft-overlooked accounting cause of action, recently reinvigorated by an appellate decision referring to the claim as an “absolute right.” What does that mean for business divorce litigants? Read on.…
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Stock Pledge Agreement Defeats Minority Shareholder’s Standing to Sue for Statutory But Not Common-Law Dissolution
By Franklin C. McRoberts on
In a follow-up to last week’s New York Business Divorce, this week’s post addresses a second decision by Justice Saliann Scarpulla in the Yu family constellation of ilitigations, this time considering the fatal effects on standing to sue for statutory dissolution by assigning one’s stock voting rights.…
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Basics of Valuation Proceedings – Litigating an Appraisal from Start to Finish – Part 3
By Franklin C. McRoberts on
Read about the accounting principles, methodologies, and standards that apply in business valuation proceedings in this week’s New York Business Divorce – the final installment of a three-part series.…
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