A recent decision by Maryland’s highest court addresses the intersection of minority shareholder rights under the “oppression” statute and the at-will employment doctrine, including a thoughtful discussion of less drastic, alternative remedies to dissolution when oppression is established. Learn more in this week’s New York Business Divorce.
Continue Reading Less Drastic Measures: Maryland Case Highlights Non-Dissolution Remedies for Oppressed Minority Shareholders
Unraveling the Implied Covenant of Good Faith and Fair Dealing: Guest Post by Professor Daniel Kleinberger
This week’s New York Business Divorce features a guest post by Daniel S. Kleinberger, Emeritus Professor of Law at William Mitchell College of Law and renowned expert on business organizations. His topic: the implied covenant of good faith and fair dealing under Delaware law.
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LLC “Squabble” Gets Back Its Day in Court
This week’s New York Business Divorce examines a recent Justice Bucaria decision that, upon reconsideration, allows an LLC member’s suit to recover withheld distributions to proceed without necessity of amending her complaint to seek judicial dissolution. The decision also prompts a look at the LLC Law’s statute of repose for “wrongful distributions.”
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A Classic Case of Minority Shareholder Oppression
If you’re looking for a good old-fashioned case of minority shareholder oppression, look no further than this week’s New York Business Divorce which examines Justice Richard Platkin’s recent decision in Matter of Digeser v Flach.
Continue Reading A Classic Case of Minority Shareholder Oppression
Court Rejects Majority’s Gambit to Compel Buyback of Shares in Family-Owned Business
A 2-against-1 battle between sibling co-owners of a third-generation family business leads to an interesting decision by Justice Duane Hart concerning a disputed stock buyback, highlighted in this week’s New York Business Divorce.
Continue Reading Court Rejects Majority’s Gambit to Compel Buyback of Shares in Family-Owned Business
Dissociated LLC Member Faces “Equitable” Forced Buy-Out
Equity jurisprudence cozies up to LLCs in the appellate ruling highlighted in this week’s New York Business Divorce involving the forced sale of a dissociated member’s interest.
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Recent Articles Highlight Dissolution of Foreign Entities and Delaware LLC Litigation
This week’s New York Business Divorce highlights two recently published articles on two topics of great interest to business divorce practitioners: (1) whether courts of one state have jurisdiction to dissolve business entities formed in another state, and (2) the role of equity in Delaware LLC litigation.
Continue Reading Recent Articles Highlight Dissolution of Foreign Entities and Delaware LLC Litigation
Pizza Chef with Bigger Piece of LLC Pie Allowed to Terminate Minority Member’s Employment
Pizza’s on the menu in this week’s New York Business Divorce, or at least a dispute between co-members of an LLC that owns a popular Manhattan pizzeria. Just don’t look for any extra cheese on Justice Sherwood’s recent decision in Manzella v. Caporuscio, authorizing the majority member to terminate the minority member’s employment.
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Court Enforces Waiver of Limited Partner’s Right to Seek Judicial Dissolution — Or Did It?
A very interesting decision earlier this month by Justice Eileen Bransten in Doppelt v. Smith addressed whether a minority limited partner’s right to seek judicial dissolution was preempted by the partnership agreement’s provision authorizing dissolution upon the consent of a majority of the limited partnership interests. Read more in this week’s New York Business Divorce.
Continue Reading Court Enforces Waiver of Limited Partner’s Right to Seek Judicial Dissolution — Or Did It?
Don’t Miss These Upcoming Programs on LLCs and Business Valuation
The LLC Institute, the New York Law Journal, and the American Institute of CPAs are all sponsoring upcoming continuing education programs of great interest to business divorce professionals, at two of which I’ll be a panel member. Get the details in this week’s New York Business Divorce.
Continue Reading Don’t Miss These Upcoming Programs on LLCs and Business Valuation