New York Business Divorce proudly presents its 11th annual list of the past year’s ten most noteworthy business divorce cases, along with short summaries and links to prior posts on the featured cases.
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Equitable Accounting vs. Access to Books and Records: Don’t Confuse Them
In litigation between co-owners of private business entities, a claim against the controllers for an equitable accounting is different from a claim seeking access to books and records — or is it? Get the answer in this week’s New York Business Divorce.
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Outlawing of LLC’s Short-Term Rental Business Brings Long-Term Litigation
Ill-fated hardly begins to describe the legislatively doomed LLC involved in the lawsuit featured in this week’s New York Business Divorce. You won’t want to miss it.
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IP Disputes Among Private Business Co-Owners Dominate Three Recent Cases
Intellectual property rights are the lifeblood of many a closely held business entity. This week’s New York Business Divorce looks at three recent decisions involving disputes among business co-owners over the ownership and exploitation of critical IP assets.
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Is a Schedule K-1 By Itself Enough to Prove LLC Membership?
This week’s New York Business Divorce jumps back into the fray of undocumented interests in LLCs with no written operating agreement, focusing on a recent court decision that found in favor of the plaintiff’s claim of membership based solely on the LLC’s tax return.
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Think Twice Before Putting 100% Quorum Requirement in By-Laws or LLC Agreement
This week’s New York Business Divorce examines an unusual case centering on an atypical quorum provision in an operating agreement requiring the presence of all managers in order to conduct any business.
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A Deep Dive Into the Election to Purchase in Dissolution Proceedings
This week’s New York Business Divorce takes a close look at the issues surrounding the statutory right of the corporation and other shareholders to stay dissolution proceedings by electing to purchase the petitioner’s shares at fair value.
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Does an Inactive Member of a Member-Managed LLC Owe Fiduciary Duties?
This week’s New York Business Divorce examines a noteworthy decision by Manhattan Commercial Division Justice Barry Ostrager in which he held that a member of a member-managed LLC owes fiduciary duties regardless whether the member actively participates in the LLC’s management.
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Does This Decision Put the Brakes on Non-Unanimous Amendments to Operating Agreements?
It’s back! For the third week in a row, New York Business Divorce examines a decision by Manhattan Commercial Division Justice Saliann Scarpulla in a multi-faceted feud among members of the Yu family, this time requiring the court to balance the fiduciary duty owed by LLC managers against the right to amend the operating agreement without the consent of the affected minority member.
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Judicial Dissolution and the Weaponized LLC
This weeks New York Business Divorce examines a recent decision by Justice Saliann Scarpulla, dismissing a complaint seeking judicial dissolution of two family-owned LLCs in which the plaintiff alleged that his siblings’ actions were in furtherance of a “personal vendetta.”
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