The barriers to a federal court forum in corporate dissolution cases is high indeed, as the litigants learned in the case examined in this week’s New York Business Divorce.
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Assignment of LLC Interest Defeats Standing Despite Alleged Lack of Consideration
A recent decision by Manhattan Commercial Division Justice Anil Singh enforced a minor daughter’s assignment of her LLC membership interest to secure her father’s debt repayment to another member, over the objection that the assignment lacked consideration. Learn more in this week’s New York Business Divorce.
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Withdraw a Dissolution Claim? Not So Fast
This week’s New York Business Divorce authored by Frank McRoberts focuses on a relatively rare issue decided by Albany Commercial Division Justice Richard Platkin involving a dissolution petitioner’s request for permission to withdraw the dissolution claim in order to defeat the majority’s buy-out election.
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When Love and Business Fails
The mix of romance and business partnership can prove toxic when one or the other fails, as illustrated in a case recently decided by Queens County Justice Dufficy in Shih v. Kim, highlighted in this week’s New York Business Divorce.
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An Oppression How-To: Revoke Employment, Profit Sharing and Control
This week’s New York Business Divorce highlights an appellate opinion affirming a lower court’s findings of grounds for dissolution in a “classic” case of minority shareholder oppression.
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Operating Agreement Trumps Falsified Liquor License Application In Dispute Over LLC Membership
The case featured in this week’s New York Business Divorce illustrates the havoc that can follow when company owners create inconsistent ownership records for purposes of deceiving government agencies.
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Business Divorce Case Reaches End of Long and Winding Road
A shareholder dispute spanning seven years of litigation in New York and Delaware came to an end last week with the latter state’s highest court’s refusal to rehear the case. This week’s New York Business Divorce highlights two of the many issues raised along the way: whether Delaware law recognizes a common-law claim for minority shareholder oppression, and the validity of a reverse stock split and cash-out of the minority shareholder that deprived her of standing to pursue derivative claims.
Continue Reading Business Divorce Case Reaches End of Long and Winding Road