Partnerships

Subscribe to Partnerships

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

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.…
Continue Reading Basics of Valuation Proceedings – Litigating an Appraisal from Start to Finish – Part 1

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.…
Continue Reading New York’s High Court Takes Fresh Approach to Wrongful Dissolution, Sustains Valuation Discounts, Limits Damages in Partnership Case

Last year, in Pokoik v Norsel Realties, the trial court cited the plaintiff’s “litigious nature” and personal animus in dismissing his derivative claims based on conflict of interest. You’ll be interested to learn in this week’s New York Business Divorce that an appellate panel last week reversed the decision and reinstated the claims based on its finding that the parties’ relationship was not “especially acrimonious.”…
Continue Reading Appeals Court Reinstates Derivative Claims Dismissed for Conflict of Interest Where Parties’ Relationship Not “Especially Acrimonious”

Is there a meaningful difference between the deadlock standard for judicial dissolution under the Partnership Law and the Business Corporation Law? Perhaps. Read on in this week’s New York Business Divorce.…
Continue Reading Rare Partnership Dissolution Decision Applies Deadlock Standard to Dissolution Under Partnership Law

This week’s New York Business Divorce looks at partnerships — what gives them legal recognition and what doesn’t — in light of a recent appellate ruling dismissing a claim for breach of an oral partnership agreement. …
Continue Reading Calling an Organization a Partnership Doesn’t Make it One, But Not Calling it a Partnership Doesn’t Make it Not One. Got It?

It’s common practice to convert old realty-holding general partnerships to LLCs for financing and liability purposes. Given that partnerships and LLCs are distinct entity forms governed by distinct statutes, can a pre-conversion partnership agreement nonetheless be enforced among the post-conversion LLC members? Find out in this week’s New York Business Divorce. …
Continue Reading It’s a Partnership! No, It’s an LLC! No, It’s Both!

The Latin maxim, “equity aids the vigilant, not those who slumber on their rights,” steals the show in this week’s New York Business Divorce featuring a recent New Jersey appellate ruling affirming the dismissal of a challenge to the conversion of a limited partnership to an LLC.…
Continue Reading In Dispute Over Partnership’s Conversion to LLC, Court Finds No Duty to “Spoon-Feed” Sophisticated Investor