Sometimes, we encounter business owners who just can’t seem to differentiate themselves from the businesses they own. In this week’s New York Business Divorce, the owner of an automobile dealership group had the book thrown at him with a massive punitive damages award after helping himself to the business’s working capital.

Continue Reading “Knowing” and “Intentional” Defalcation Yields Goliath Punitive Damages Award

Section 417 of New York’s LLC Law permits the members to eliminate their fiduciary duties, but only in very narrow circumstances.  This week’s post shows how the seemingly toothless provision can carry the day. 

Continue Reading The Humble LLC Exculpation Clause Wins Big: Member/CEO Escapes $8M Fiduciary Claims