A decision last month by Justice Robert Bruno foiled a convicted felon’s attempt to assign to his wife his 50% membership interest in two realty holding LLCs. Find out more in this week’s New York Business Divorce.
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Access to Books and Records
Conditional Inspection of LLC Books and Records: When Is It Permitted?
By Peter A. Mahler on
A recent decision by Justice Donna Mills highlights the consequences of not including in the operating agreement confidentiality requirements linked to member rights to inspect books and records. It’s in this week’s New York Business Divorce. …
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Death of a Shareholder
This week’s New York Business Divorce highlights a recent decision by Justice Richard Platkin in a case involving a fractured family-owned business where the deaths of two shareholders before and during litigation triggered a consequential change in control. …
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Court Chides Parties in Family Partnership Dispute for “Needless” Litigation with “Obvious Outcome”
By Peter A. Mahler on
“Yet another unfortunate example of a family business dispute that has developed into needless litigation” is how Justice Shirley Kornreich describes a partnership dispute pitting daughter against father and sisters. Get the story in this week’s New York Business Divorce. …
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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?
By Peter A. Mahler on
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. …
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Fifty Years a Stockholder, Six Years to Prove it in Court
By Peter A. Mahler on
An appellate ruling last week in Zwarycz v, Marnia Construction, Inc. illustrates the heavy price of neglect to issue stock certificates or follow other formalities in closely held corporations — a price paid in years of litigation over stock ownership. Learn more in this week’s New York Business Divorce. …
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Decision Yields Hits and Misses for Plaintiff in Partnership Dissolution Case
By Peter A. Mahler on
A recent decision by Justice Vito DeStefano in Breidbart v Olshan offers valuable pleading tips and identifies pleading pitfalls for practitioners in crafting complaints in partnership disputes. Learn more in this week’s New York Business Divorce.
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5 Reasons to Get a “Quick-and-Dirty” Appraisal in Business Divorce Cases
By Peter A. Mahler on
The so-called “quick and dirty” business appraisal can serve a number of highly useful purposes in the early stages of a business divorce, as explained in this week’s New York Business Divorce. …
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Oppression Claims Don’t Cut It in LLC Dissolution Cases
By Peter A. Mahler on
Last week’s decision by a Manhattan appellate panel in Barone v. Sowers reaffirms its holding two years ago in Doyle v. Icon, LLC that a minority member of an LLC cannot solely rely on allegations of oppression by the majority member to survive a pretrial motion for dismissal of a dissolution claim. Learn more in this week’s New York Business Divorce.
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