Professional Service LLCs

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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This week’s New York Business Divorce features the “double whammy” of a fight over ownership of a highly successful dental practice, spiced with allegations of illegal kickbacks for patient referrals, intertwined with an acrimonious matrimonial divorce between the two litigants.
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