This week’s New York Business Divorce features an interesting decision holding that personal representatives of an estate lack standing to maintain a derivative action on behalf of a limited partnership, commenced by the decedent while alive.
Continue Reading Death of Limited Partner Disarms Derivative Action
Law firms see more than their fair share of business divorce litigation. But what are the chances of lightning striking twice? In this week’s New York Business Divorce, read about a fascinating, post-trial decision in which an upstate law firm endured a bitter partnership breakup for the second time in a decade, with the same partner taking the opposite position in each lawsuit.
Continue Reading Lawyer Says, “I’m Not a Partner, No Wait, I am a Partner!” Which is It?
This 9th annual edition of Summer Shorts presents brief commentary on four decisions of interest in business divorce cases from courts in New York, California, Delaware, and Illinois.
Continue Reading Summer Shorts: LLC Minority Member Oppression and Other Decisions of Interest
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.
Continue Reading The Law Firm “Partner”- A Rose by Any Other Name . . .
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.
Continue Reading No Mulligan But No Matter for LLC’s Majority Members After Voluntary Dissolution
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.
Continue Reading A Fond Adieu to Two Giants of the Manhattan Commercial Division Bench
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.
Continue Reading When Dealing in Partnership Owned Real Property, Caveat Emptor
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.
Continue Reading Accounting Unchained: Is the Closely Held Business Owner’s Right to an Accounting Absolute?
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.
Continue Reading Summer Shorts: Partnership Appraisal and Other Recent Decisions of Interest
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.
Continue Reading Basics of Valuation Proceedings – Litigating an Appraisal from Start to Finish – Part 2