The BCL § 1118 buyout election is a mighty litigation tool, capable of thwarting judicial dissolution, capable even of thwarting an injunction. But it is not a panacea. Read about the powers and limitations of the statutory buyout election in this week’s New York Business Divorce.
Continue Reading The BCL § 1118 Buyout Election: A Powerful Defense. With Limits.
New York appellate case law invariably holds that a closely-held business owner lacks a direct property interest or right in the entity’s underlying real estate asset to support a Notice of Pendency. But in this week’s New York Business Divorce, we feature an uncommon motion court decision declining to vacate a Notice of Pendency placed by an LLC member upon the entity’s real estate asset to thwart the property’s sale to a third-party buyer. Is this recent decision an outlier, or the birth of an exception to the rule?
This week’s New York Business Divorce features a failed attempt at removing restaurant manager on a preliminary injunction motion.
On the menu in this week’s New York Business Divorce is a case about a restaurant menu, literally, and the disputed changes to it made by a 50% member of the operating LLC.
Continue Reading I’ll Have a Bacon Cheeseburger, Hold the Pickle and LLC Dissolution
To what extent do sharply disputed issues of fact preclude injunctive relief in business divorce cases? Read about an illuminating decision from Albany County Commercial Division Justice Richard Platkin addressing this question in this week’s New York Business Divorce.
Continue Reading Fact Issues and Credibility Determinations on Injunction Motions
It’s that time of year again! This 12th annual edition of Summer Shorts presents brief commentary on five recent decisions of interest in business divorce cases in the New York courts.
Continue Reading Summer Shorts: LLC Dissolution and Other Recent Decisions of Interest
In a decision of apparent first impression last month, Justice Nancy Bannon of the Manhattan Supreme Court issued an injunction against the holding of a corporate election under BCL § 619. Minority shareholders facing an anticipated election called by a rival majority would be wise to consider the roadmap to injunctive relief charted by the plaintiffs here.
Continue Reading Stop the Vote: Injunction Halts Shareholders Meeting Pursuant to Courts’ Broad Power to Review Corporate Elections
In this week’s New York Business Divorce, read about one of the most mighty and effective litigation tools for business divorce lawyers and their clients: the injunction.
Continue Reading The Injunction Remedy in Business Divorce Cases
Bad things happen when evidence gets spoliated, as an adversarial husband and wife learned the hard way in this week’s New York Business Divorce.
Continue Reading Gull Wing Takes Flight, Pleading Gets Stricken
LLCs in receivership is our topic for the second week in a row. This week’s post looks at a dispute between 50/50 LLC members involving the on-again, off-again appointment of a post-dissolution receiver.
Continue Reading LLC’s Post-Dissolution Receivership is On, is Off, is On