When 50-50 business partners have a falling out, the ensuing battle for the high ground can lead one of them to take hostile action in the company’s name without the other’s consent. A new decision on the subject by Justice Kenneth Fisher launches this week’s New York Business Divorce.
Continue Reading Caplash Redux: 50% Member Cannot Hire Lawyer to Represent LLC in Dispute with Other 50% Member
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Judicial Dissolution of the Unprofitable LLC
By Peter A. Mahler on
Posted in Grounds for Dissolution, LLCs
Can or should a court dissolve a limited liability company on the ground it is unprofitable? See what you think after reading this week’s New York Business Divorce.
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Continue Reading Judicial Dissolution of the Unprofitable LLC
High Court Restricts Remedies of Limited Partner Alleging Fraud by General Partner in Merger Transaction
By Peter A. Mahler on
Posted in Partnerships
The verdict is in: Limited partners may not assert claims seeking damages or rescission for fraud or illegal acts by the general partner relating to a merger transaction, and may only look to their statutory appraisal rights for relief. Read about it in this week’s New York Business Divorce.
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Continue Reading High Court Restricts Remedies of Limited Partner Alleging Fraud by General Partner in Merger Transaction