This week’s New York Business Divorce examines an intriguing case involving an LLC whose operating agreement required a member to transfer his interest to the other members because of his filing of a divorce action against his wife. When the divorcing member refused to do so, he bought himself a second divorce litigation, of the business kind.
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Statute and Cases Create Uncertainty Over LLC Member’s Right to Inspect Books and Records
By Peter A. Mahler on
The LLC Law gives members certain rights to inspect company records. Read this week’s New York Business Divorce to find out how courts have taken different approaches to the issue.
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Court Grants Specific Performance of LLC Members’ Buy-Sell Agreement
By Peter A. Mahler on
Posted in Family-Owned Businesses, LLCs
This week’s New York Business Divorce tells a cautionary tale about the perils business owners face when they negotiate a buy-sell agreement without counsel. Read about a recent case in which a court found a binding agreement based on an exchange of letters.
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Judicial Dissolution of the Unprofitable LLC
By Peter A. Mahler on
Posted in Grounds for Dissolution, LLCs
Can or should a court dissolve a limited liability company on the ground it is unprofitable? See what you think after reading this week’s New York Business Divorce.
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Roundup of 2007 Business Divorce Cases
Here’s a preview of (and link to) Peter Mahler’s recently published article in the New York Law Journal highlighting the most interesting business divorce cases decided by New York courts in 2007.
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Anatomy of a Dissolution Slugfest: Part II
By Peter A. Mahler on
Read Part II of a five-part series about a high-stakes dissolution donnybrook involving a luxury car dealership.
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LLC Members May Bring Derivative Suits
By Peter A. Mahler on
Read about a decision issued today by New York’s highest court, upholding the right of LLC members to bring derivative lawsuits on behalf of LLCs.
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Decision Highlights Interplay Between Employment Status and LLC Membership
By Peter A. Mahler on
Read about an appellate decision issued last week concerning the standing of an LLC member to seek judicial dissolution after he resigned his employment with the company.
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Expelling an LLC Member
By Peter A. Mahler on
Expelling an unwanted member of an LLC sounds like a great alternative to dissolving the LLC, but it may not be possible or easy depending on the provisions of the Operating Agreement.
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LLC Dissolution and Receivers
By Peter A. Mahler on
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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