It’s the third anniversary of New York Business Divorce, and what better way to celebrate the occasion, and the New Year, than a look back at 2010’s top-ten business divorce cases.
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Receivership
Court Grants Common-Law Dissolution and Awards Damages for 5% Shareholder Excluded From Sale of Company Assets
By Peter A. Mahler on
A Queens County judge recently lowered the boom on controlling shareholders of a fire and burglar alarm company, all of whose assets they sold without telling, or distributing any sale proceeds to, a minority shareholder. Get the full story in this week’s New York Business Divorce.
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Continue Reading Court Grants Common-Law Dissolution and Awards Damages for 5% Shareholder Excluded From Sale of Company Assets
Court Requires Demand Upon Receiver for Derivative Action in Dissolution Case
By Peter A. Mahler on
Posted in Derivative Actions, Receivership
When the court appoints a receiver in a corporate dissolution proceeding, must a shareholder who thereafter seeks to bring a derivative action on the corporation’s behalf make a formal demand upon the receiver before filing the action? A recent decision by Nassau County Commercial Division Justice Timothy S. Driscoll, covered in this week’s New York Business Divorce, gives the answer.
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Court Charges Receiver’s Legal Fees in Corporate Dissolution Against 50% Shareholder’s Distributive Share Based on Misconduct
By Peter A. Mahler on
Posted in Receivership
A recent decision by Manhattan Commercial Division Justice Melvin Schweitzer in a corporate dissolution case called Matter of Darvish breaks new ground with respect to the disproportionate assessment against the shareholders’ distributive shares of a court-appointed receiver’s legal fees. It’s in this week’s New York Business Divorce.
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Continue Reading Court Charges Receiver’s Legal Fees in Corporate Dissolution Against 50% Shareholder’s Distributive Share Based on Misconduct
Statute Constrains Commissions for Court-Appointed Receivers in Corporate Dissolution Proceedings
By Peter A. Mahler on
Posted in Receivership
An appellate decision this month, in Matter of Eklund Farm Machinery, Inc., spotlights anew the inadequate statutory compensation scheme governing court-appointed receivers in corporate dissolution proceedings. It’s in this week’s New York Business Divorce.
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Winding Up an Acrimonious Partnership Following Death of a Partner
By Peter A. Mahler on
The Partnership Law’s default provisions provide a roadmap for Justice Timothy Driscoll’s recent decision, highlighted in this week’s New York Business Divorce, involving the dissolution of a family real estate partnership following the death of one of its partners.
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LLC Dissolution and Receivers
By Peter A. Mahler on
The LLC Law omits any provision for appointment of a temporary receiver. Read about a recent case where it made a difference.
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