Interim Remedies

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A decision last week by the Appellate Division, First Department, in Lehey v. Goldburt brings to light a bitter dispute between the managing member of a vodka distributor with a gimmicky bottle featuring an LED ticker display, and an investor claiming that his millions in funding have been squandered. Get the story in this week’s New York Business Divorce.
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Continue Reading Appellate Court Reinstates LLC Manager in Dispute with Investor in Vodka Venture

Earlier this month, in a case called Reichman v. Reichman, the Brooklyn-based Appellate Division, Second Department, reversed a lower court’s decision and granted a preliminary injunction in a bitter feud between father and son over the ownership of a dot-com business organized as an LLC. Don’t miss it in this week’s New York Business Divorce.
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Continue Reading Father May Not Know Best: Appeals Court Grants Injunction in Son’s Bid to Establish Majority Ownership of LLC

An unusual shareholders’ agreement leads to unusual, concurrent arbitration and judicial proceedings in a shareholders’ battle for control of a Brooklyn restaurant business. Read about Justice Carolyn Demarest’s recent decision in Boz Export & Import v. Karakus in this week’s New York Business Divorce.
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Continue Reading Concurrent Arbitration and Court Proceedings in Shareholder Dispute? It Can Happen.

When you can’t be a fly on the wall, a discreetly placed tape recorder may be the next best thing. That, at least, is one of the lessons taught by Feinberg v. Silverberg, decided last month by Nassau County Justice Ira Warshawsky, in which the court granted a preliminary injunction in a shareholder dispute based on tape recordings that captured the defendant planning to oust his business partner. Don’t miss it in this week’s New York Business Divorce.
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Continue Reading “So If We Shut the Lights on This Sucker” and Other Things Not to Say on Tape When Squeezing Out a Fellow Shareholder

When the company or majority shareholder elects to purchase a dissolution petitioner’s shares for fair value, how can the selling shareholder be sure the purchaser will be able to pay the eventual award? The statute offers relief in the form of a bonding requirement, as illustrated in a recent case decided by Nassau County Commercial Division Justice Stephen A. Bucaria. Get the story in this week’s New York Business Divorce.
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Continue Reading Bonding a Fair Value Award: When Can the Court Require It?

The order to show cause is a critical document drafted by the petitioner’s counsel for signature by the judge when initiating a corporate dissolution proceeding. This week’s New York Business Divorce offers a drafting primer using some illustrative forms.
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Continue Reading Dissecting the Order to Show Cause in Corporate Dissolution Proceedings

It’s summertime, the livin’ is easy and the fare is lighter in this week’s New York Business Divorce featuring short summaries of a few decisions on diverse issues in shareholder disputes decided by Nassau County Justice Stephen Bucaria and Manhattan Justices Jane Solomon and Debra James.
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Continue Reading A Few Dissolution Case Tidbits

In two recent decisions, courts in Delaware and New York addressed obligations of non-managing members of LLCs to maintain the confidentiality of company trade secrets. These cases provide important lessons for attorneys who prepare LLC operating and employment agreements. It’s in this week’s New York Business Divorce.
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Continue Reading Keeping the Gag on Ex-Business Partners: LLCs and Confidentiality Agreements

The Partnership Law’s default provisions provide a roadmap for Justice Timothy Driscoll’s recent decision, highlighted in this week’s New York Business Divorce, involving the dissolution of a family real estate partnership following the death of one of its partners.
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Continue Reading Winding Up an Acrimonious Partnership Following Death of a Partner