If a Schedule K-1 lists you or your client as a “general partner” and 2% owner of a partnership, is that the end of the story for proving ownership status? This week, we consider that question in the context of a long-running litigation between a well-known insurance litigation firm and its former “partner” over his standing to sue to dissolve the business.
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Partnerships
No Mulligan But No Matter for LLC’s Majority Members After Voluntary Dissolution
By Peter Mahler on
This week’s New York Business Divorce features an interesting decision by Commercial Division Justice Lawrence Knipel addressing the standing of the individual members of a dissolved LLC to petition for the winding up of a limited partnership in which the LLC is a majority limited partner.…
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A Fond Adieu to Two Giants of the Manhattan Commercial Division Bench
In this week’s New York Business Divorce, a tip of the hat to retiring Justices Eileen Bransten and Charles E. Ramos with a look back at some of their more memorable business divorce rulings.…
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When Dealing in Partnership Owned Real Property, Caveat Emptor
By Franklin C. McRoberts on
In this week’s New York Business Divorce, read about how dissenting general partners can potentially wreak havoc on partnership real property sales, and how buyers can protect themselves from judicial invalidation of their transactions.…
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Accounting Unchained: Is the Closely Held Business Owner’s Right to an Accounting Absolute?
By Franklin C. McRoberts on
In this week’s New York Business Divorce, we focus on the oft-overlooked accounting cause of action, recently reinvigorated by an appellate decision referring to the claim as an “absolute right.” What does that mean for business divorce litigants? Read on.…
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Summer Shorts: Partnership Appraisal and Other Recent Decisions of Interest
By Peter Mahler on
This 8th annual edition of Summer Shorts presents brief commentary on three decisions of interest in business divorce cases, including an appraisal contest involving a law firm partnership interest; a dispute whether a shareholder agreement was merely a profit-sharing agreement; and a challenge to federal court jurisdiction over a statutory dissolution claim. …
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Basics of Valuation Proceedings – Litigating an Appraisal from Start to Finish – Part 2
By Franklin C. McRoberts on
In this week’s New York Business Divorce – the second in a three-part series – learn about the legal rules and principles governing partnership, corporation, and limited liability company appraisal proceedings.…
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Basics of Valuation Proceedings – Litigating an Appraisal from Start to Finish – Part 1
In this week’s New York Business Divorce – the first in a three-part series about the statutory triggers, legal rules, and accounting principles of business valuation proceedings – learn about the routes business owners can take to an appraisal proceeding.…
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Corporate Frankenstein “Partnership to Form a Corporation” Lives Another Day
By Franklin C. McRoberts on
Posted in Arbitration and Mediation, Partnerships
Is is a partnership? Or is it a corporation? Can an entity be both at once? Find out in this week’s New York Business Divorce.…
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New York’s High Court Takes Fresh Approach to Wrongful Dissolution, Sustains Valuation Discounts, Limits Damages in Partnership Case
By Peter Mahler on
New York’s highest court last week handed down its long awaited decision in Congel v Malfitano, in which the court tackled a number of highly important issues affecting partnership dissolution and valuation cases. Get the full story in this week’s New York Business Divorce.…
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