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. …
Continue Reading Divorcing Husband Not Smiling Over Court’s Rejection of Ownership Interest in Wife’s Dental Practice

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.
Continue Reading “Where’s the Beef?” Says Appeals Court, Reversing LLC Dissolution

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?

Is a “Management Member” of an LLC, who holds only an economic interest, a “Member” for purposes of demanding access to the LLC’s books and records? Justice Shirley Werner Kornreich, applying Delaware law, closely examined the operating agreement in upholding inspection rights, as explained in this week’s New York Business Divorce.
Continue Reading A Member By Any Other Name . . . May Have Access to LLC Books and Records

A minority member of an LLC that operates a Manhattan restaurant learned how tough it can be to get judicial dissolution of a financially sound LLC that’s achieving its intended purpose, notwithstanding allegations of majority oppression. It’s in this week’s New York Business Divorce.
Continue Reading LLC’s Purpose Being Achieved? Business Doing Fine? Good Luck Getting Judicial Dissolution

Did the parties get it wrong, or the judge, or both in Verkhoglyad v Benimovich, in which the court let proceed a claim to dissolve a foreign business entity and refused to enforce forum selection and pre-suit mediation clauses in the operating agreement of a New Jersey LLC. Learn more in this week’s New York Business Divorce. …
Continue Reading Read This Case. Slap Your Head. Not Too Hard.

Eagle Force v. Campbell, decided earlier this month by the Delaware Chancery Court, is a fascinating cautionary tale of the perils of signing and then trying to enforce incomplete business formation agreements. Get the story in this week’s New York Business Divorce.
Continue Reading Don’t Let the Deal Get Ahead of the Documents

Business Divorce Stories is the title of the latest episode of the Business Divorce Roundtable podcast highlighted in this week’s post, featuring short interviews with business appraiser Tony Cotrupe and attorney Jeffrey Eilender sharing their first-hand accounts of business divorce cases involving break-ups of two businesses, each co-owned by a pair of brothers. …
Continue Reading Business Divorce Stories: Podcast Interviews with Business Appraiser Tony Cotrupe and Attorney Jeffrey Eilender