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Appellate Court Rejects LLC Manager’s Safe-Harbor Defense, Finds Breach of Fiduciary Duty

By Peter A. Mahler on March 10, 2014

Posted in Accountants/Experts, Corporate Governance, Family-Owned Businesses, LLCs

Last week’s decision by the Appellate Division, First Department, in Pokoik v. Pokoik appears to be the first appellate ruling applying the safe-harbor provision in Section 409 of New York’s LLC Law governing duties of managers. Learn more about this important development in this week’s New York Business Divorce. …
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Failure to Define Terms in Buyout Agreements Leads to Litigation Woes

By Peter A. Mahler on November 8, 2010

Posted in Buyout, Fair Market Value vs. Fair Value, Settlement, Valuation, Valuation Discounts

What do three recent decisions by the Wisconsin Supreme Court, the Appellate Division in Albany, and Nassau County Justice Ira Warshawsky have in common? They all involve disputes over poorly designed buyout agreements that fail to define critical terms. It’s in this week’s New York Business Divorce.
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Continue Reading Failure to Define Terms in Buyout Agreements Leads to Litigation Woes