New York Business Divorce this week inaugurates Winter Case Notes, offering synopses of three recent decisions by Supreme Court Justices Richard Platkin, Stephen Bucaria, and Cynthia Kern in cases involving the removal of an LLC manager and other issues of interest to business divorce professionals.
Continue Reading Winter Case Notes: LLC Manager Removal and Other Recent Decisions of Interest
Bucaria
LLC “Squabble” Gets Back Its Day in Court

This week’s New York Business Divorce examines a recent Justice Bucaria decision that, upon reconsideration, allows an LLC member’s suit to recover withheld distributions to proceed without necessity of amending her complaint to seek judicial dissolution. The decision also prompts a look at the LLC Law’s statute of repose for “wrongful distributions.”…
Continue Reading LLC “Squabble” Gets Back Its Day in Court
First a Judicial Nudge, Then a Push to the Buy-Out in Shareholder Dispute

A noteworthy decision by Justice Stephen A. Bucaria in Carrillos v Gomez, in which he ordered a shareholder buy-out at fair value in the absence of a dissolution petition, is featured in this week’s New York Business Divorce. …
Continue Reading First a Judicial Nudge, Then a Push to the Buy-Out in Shareholder Dispute
Court-Ordered LLC Buy-Outs: What’s the Valuation Date?

In the absence of statutory authorization, a few courts have ordered equitable buy-outs in LLC dissolution cases. This week’s New York Business Divorce examines an important question in such cases: What valuation date should be used? …
Continue Reading Court-Ordered LLC Buy-Outs: What’s the Valuation Date?
Court Rebuffs Dissolution Withdrawal in Denying Enforcement of Non-Compete

Can majority members of an LLC withdraw a dissolution claim, over two years into the case, for the purpose of enforcing against a minority member the LLC agreement’s non-compete provision which, by its terms, lapses upon dissolution? Find out in this week’s New York Business Divorce. …
Continue Reading Court Rebuffs Dissolution Withdrawal in Denying Enforcement of Non-Compete
Squabbling Partners with Piecemeal Adjudications Need Not Apply

Over the last year or so Nassau County Commercial Division Justice Stephen Bucaria has issued a series of decisions in disputes among co-owners of close corporations and LLCs applying the ancient rule of partnership law prohibiting courts from adjudicating such disputes except when dissolution or a final accounting is sought. Learn more about this intriguing development in this week’s New York Business Divorce. …
Continue Reading Squabbling Partners with Piecemeal Adjudications Need Not Apply
Court Resolves Trio of Issues in Battling Brothers’ Buy-Out

Two brothers battle it out in a series of disputes over the exercise of a realty partnership buy-out option, resulting in a trio of court decisions by Justice Stephen Bucaria in Abatemarco v Abatemarco, highlighted in this week’s New York Business Divorce.
Continue Reading Court Resolves Trio of Issues in Battling Brothers’ Buy-Out
Novel Ruling on Advancement in LLC Dissolution Case “Levels the Playing Field”

Justice Stephen Bucaria’s recent decision in PFT Technology LLC v. Wieser is one of only a handful of rulings by New York courts addressing the right to advancement of legal fees in litigation among members of a limited liability company. Learn more in this week’s New York Business Divorce. …
Continue Reading Novel Ruling on Advancement in LLC Dissolution Case “Levels the Playing Field”
The High Price of Bungled Expert Disclosure in Valuation Cases

Appraisal experts provide critical testimony in valuation proceedings. Court rules govern pretrial expert disclosure. In this week’s New York Business Divorce, you can bone up on the disclosure requirements and read about cases in which the parties paid a price for failing to comply with disclosure requirements. …
Continue Reading The High Price of Bungled Expert Disclosure in Valuation Cases
Novel Ruling in Lawsuit Over Capital Call Prods Parties to Equitable Buy-Out

In Digirolomo v. Sugar LI, LLC, decided last month by Justice Stephen Bucaria, the court devised a novel solution in a lawsuit between LLC members, designed to bring about an equitable buy-out, by conditioning injunctive relief on the plaintiffs filing an amended complaint seeking dissolution. Don’t miss it in this week’s New York Business Divorce. …
Continue Reading Novel Ruling in Lawsuit Over Capital Call Prods Parties to Equitable Buy-Out