The laws authorizing “oppressed” minority shareholders to petition for corporate dissolution also give the majority shareholders the right to avoid litigating dissolution by electing to purchase the petitioner’s shares for fair value. This week’s New York Business Divorce highlights a recent case in which the court refused to permit an untimely election.
Continue Reading Timing is Everything When it Comes to the Buyout Election in Corporate Dissolution Cases
Spouses Holding Shares as Joint Tenants Must Jointly Petition for Corporate Dissolution
When husband and wife hold shares as joint tenants with right of survivorship, can one of them seek corporate dissolution without joining the other? Get the answer in this week’s New York Business Divorce.
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Anatomy of a Dissolution Slugfest: Part III
Read Part III of a series of postings about a high-stakes dissolution donnybrook involving a luxury car dealership.
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Read All About It! Publication Notice of Dissolution Proceedings
Lawsuits to dissolve a closely held corporation are no private affair, thanks to New York law mandating publication notice of the proceedings in one or more general circulation newspapers. Read about the tactical considerations.
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Get Thee to the Commercial Division!
In New York City, Long Island and several other areas of the state, there are specialized courts known as the Commercial Division that handle business cases including corporate dissolution. Read why it makes sense to take advantage.
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LLC Dissolution and Receivers
The LLC Law omits any provision for appointment of a temporary receiver. Read about a recent case where it made a difference.
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Improper Verification of Dissolution Petition Leads to Case Dismissal
A recent court decision reminds us how the simple, easily avoidable mistakes made by counsel at the outset of a dissolution case can end in a misfire — and likely an angry client.
In Matter of Cohen (Last Choice Real Estate Corp.), Index No. 5940/07 (Sup Ct Nassau County July 18, 2007), Justice Stephen