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Bad Things Can Happen When You Steal a Business from a Minority Co-Owner

By Franklin C. McRoberts on October 29, 2023

Posted in Attorney's Fees, Expulsion and Removal, Freeze-Out Merger

In this week’s New York Business Divorce, read about a rare punitive damages award in a business divorce case after a majority owner misappropriated a 25% interest in a sushi restaurant, secretly transferred the entity’s assets to another he owned, then dissolved the original, all unbeknownst to the minority owner. …
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It Aint Over ’til It’s Over: Courts Decide Post-Dissolution Controversies

By Peter A. Mahler on May 16, 2011

Posted in Derivative Actions, Liquidation

Better late than never, at least sometimes, is the common theme of the cases highlighted in this week’s New York Business Divorce. The cases examined include one shareholder’s effort to challenge the disposition of company assets 13 years after its dissolution and, in another case, an attempt to annul a default judgment of dissolution almost three years later.
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