Is there a difference in determining the “value” of a partnership interest under Partnership Law Section 73 and the “fair value” of a stock interest under the Business Corporation Law? This week’s New York Business Divorce looks at a recent New York appellate decision that answers the question in a dispute over application of discounts for lack of control and lack of marketability.
Continue Reading Court Refuses to Apply Marketability and Minority Discounts in Valuing Deceased Partner’s Interest
Partnerships
High Court Restricts Remedies of Limited Partner Alleging Fraud by General Partner in Merger Transaction
By Peter A. Mahler on
Posted in Partnerships
The verdict is in: Limited partners may not assert claims seeking damages or rescission for fraud or illegal acts by the general partner relating to a merger transaction, and may only look to their statutory appraisal rights for relief. Read about it in this week’s New York Business Divorce.
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Continue Reading High Court Restricts Remedies of Limited Partner Alleging Fraud by General Partner in Merger Transaction
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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Continue Reading Roundup of 2007 Business Divorce Cases
Lawyers Suing Lawyers
By Peter A. Mahler on
A decision last week by New York’s highest court may have registered an uptick on the public’s schadenfreude meter, at least among the portion of the public who hold the legal profession in low esteem and who therefore might enjoy the sight of internecine warfare among splitting partners of a law firm.
In Ederer v. …
Partnership Agreement Controls Dissolution Notwithstanding Conversion to Corporation
By Peter A. Mahler on
Individuals and companies have a choice of entities – some requiring more formalities than others – through which to pool their resources and efforts in pursuit of a common business goal. Joint ventures and general partnerships are on the less formal side of the spectrum and are often used in the early stages of a…