Equitable dissolution of LLCs may not sound familiar to business divorce mavens, but that could change after last week’s decision by Vice Chancellor Laster of the Delaware Chancery Court in a case involving the Tom James custom apparel company. Read more in this week’s New York Business Divorce.
Continue Reading Delaware Chancery Court Endorses Equitable Dissolution of LLC
Tom Rutledge, one of the country’s leading lawyers and commentators on business organizations, recently published a fascinating article on minority shareholder oppression in which he challenges whether courts ought to provide remedies for terminated at-will employees who also happen to be minority shareholders. Read about it in this week’s New York Business Divorce.
Continue Reading You’re Fired! No, I’m Oppressed!
Delaware law’s contractarian approach is central to that state’s jurisprudence concerning limited liability companies. Last month, in Huatuco v. Satellite Healthcare, the Court of Chancery cited freedom-of-contract in dismissing an action for judicial dissolution based on its finding that the LLC agreement’s provision, limiting member rights to those expressly granted in the agreement, constituted a waiver of the right to seek judicial dissolution. This week’s New York Business Divorce asks the question, does Huatuco take contractarianism too far?
Continue Reading Contractarianism Gone Wild?
This week’s New York Business Divorce features Part One of a two-part online interview with law professor Benjamin Means, who has written a number of scholarly articles on shareholder oppression, and whose most recent article, called Non-Market Values in Family Businesses, applies Ben’s critical analysis to the special considerations attendant to oppression actions and conflict resolution within family-owned businesses. You won’t want to miss it!
Continue Reading Interview with Law Professor Benjamin Means on Conflict in Family-Owned Businesses: Part One