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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Receivership
Judicial Dissolution as the Nuclear Option When Other Means Falter
By Peter Mahler on
Posted in Deadlock, Receivership
This week’s New York Business Divorce discusses basic litigation options in business divorce matters and highlights a recent court decision illustrating the use of a judicial dissolution proceeding as the “nuclear option” to break the litigation logjam.…
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Gymnastics Business Falls Off the Beam in LLC Dissolution Case
By Peter Mahler on
A rare post-trial decision granting a minority member’s petition for judicial dissolution of an LLC with no operating agreement takes the spotlight in this week’s New York Business Divorce.…
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You Sued for Dissolution, They Elected to Buy You Out, What Else Do You Want?
By Peter Mahler on
In Hammad v Al-Lid Food Corp., decided last month by Justice Sylvia Ash, the court denied the minority shareholder’s application for various interim remedies sought after the company elected to purchase his shares. Find out more in this week’s New York Business Divorce.…
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Court Grants 50% LLC Member Derivative Right to Defend Action Brought by Other 50% Member’s Solely Owned Company
By Peter Mahler on
In a first impression ruling, the Second Circuit U.S. Court of Appeals upheld an LLC member’s derivative right to defend litigation brought against the LLC by one of its other members. Read about it in this week’s New York Business Divorce. …
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Delaware Chancery Court Rulings Address Valuation and Insolvency Disputes
By Peter Mahler on
If you’re a business appraisal aficionado, you won’t want to miss this week’s New York Business Divorce featuring two recent decisions by the Delaware Chancery Court involving fair value and insolvency determinations.…
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“Where’s the Beef?” Says Appeals Court, Reversing LLC Dissolution
By Franklin C. McRoberts on
After more than two years in receivership, an appeals court gives a dissolved LLC a new lease on life because the petitioners “offered no competent evidentiary proof” why the entity should have been dissolved. We take a closer look in this week’s New York Business Divorce.…
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Superstorm Sandy Unable to Wash Away Sin of Contempt
By Franklin C. McRoberts on
Posted in Liquidation, Receivership
Corporation dissolved. Receiver appointed. Missing inventory. Contempt application. Blame it on Superstorm Sandy? Frank McRoberts explains in this week’s New York Business Divorce.…
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A Pair of Unbrotherly Business Altercations Go to Trial
By Peter Mahler on
This week’s New York Business Divorce features a pair of post-trial decisions by Justice Timothy Dufficy in two cases — one seeking dissolution of an LLC, the other seeking to establish a de facto partnership — both of which involved contested ownership as between two sets of brothers.…
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Winter Case Notes: De Facto Partnership and Other Recent Decisions of Interest
This week’s New York Business Divorce offers its annual Winter Case Notes with synopses of four recent decisions by Supreme Court Justices Elizabeth Emerson, Stephen Bucaria, and Charles Ramos in cases involving partnership, close corporation, and LLC disputes.…
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