Intellectual property rights can be the lifeblood of a business. This week’s New York Business Divorce highlights a pair of recent cases involving disputes among the co-owners of closely held firms over the ownership of IP critical to the firms’ prosperity or even existence.
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Interim Remedies
You Sued for Dissolution, They Elected to Buy You Out, What Else Do You Want?
By Peter Mahler on
In Hammad v Al-Lid Food Corp., decided last month by Justice Sylvia Ash, the court denied the minority shareholder’s application for various interim remedies sought after the company elected to purchase his shares. Find out more in this week’s New York Business Divorce.…
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Bona Fide Purchaser Avoids Rescission of Minority Shareholder’s Unauthorized Sale of Corporation’s Realty
By Peter Mahler on
Posted in Interim Remedies, Liquidation
In this week’s New York Business Divorce, find out what happened when the majority shareholder petitioned to rescind the minority shareholder’s unauthorized sale of the corporation’s realty to a third party purchaser in violation of the court’s restraining order. …
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If LLC Agreement Must Be in Writing, Must it Be Signed?
By Peter Mahler on
An appellate ruling last week in a dispute between a putative 50% LLC member and the other party claiming to be the sole member raises the issue whether a written operating agreement, to be enforceable, requires signatures. Read more in this week’s New York Business Divorce. …
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Winter Case Notes: LLC Deadlock and Other Recent Decisions of Interest
This week’s New York Business Divorce offers its annual Winter Case Notes with synopses of five recent decisions in business divorce cases involving LLC dissolution, cash-out merger, LLC member expulsion, and more. …
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Winter Case Notes: De Facto Partnership and Other Recent Decisions of Interest
This week’s New York Business Divorce offers its annual Winter Case Notes with synopses of four recent decisions by Supreme Court Justices Elizabeth Emerson, Stephen Bucaria, and Charles Ramos in cases involving partnership, close corporation, and LLC disputes.…
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Sole Owners of Close Corporation and LLC Discover They’re Not So Sole
By Peter Mahler on
Conflicts over ownership in close corporations and LLCs, usually accompanied by conflicting or inadequate documentation, continue to generate court decisions of interest, two of which get the treatment in this week’s New York Business Divorce. …
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Executor of Deceased Majority Member Appointed Receiver to Wind Up LLC
The death and testamentary bequests of the majority member of a family-owned LLC set the stage for a legal contest over the executor’s standing to enforce dissolution and have himself appointed as receiver to wind up the LLC’s affairs. This week’s New York Business Divorce has the story.…
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The Prohibition Against Using Company Funds for Legal Fees in Dissolution Proceedings
By Peter Mahler on
A recent decision by Justice Stephen A. Bucaria in a common-law dissolution case prompts a look at the rules governing use of company funds to pay legal fees in dissolution cases. Learn more in this week’s New York Business Divorce.…
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Court Dismisses Dissolution Petition Amidst Multi-Jurisdictional Battle for Control of LLC
By Peter Mahler on
An unusual, two-state battle between 50-50 owners of a New York LLC led to a decision earlier this month by Justice Kornreich dismissing a dissolution petition and denying injunctive relief following a New Jersey judge’s order appointing a fifth Director to break a Board deadlock. This week’s New York Business Divorce has the story.…
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