Corporate Opportunity

A Litigation Odyssey

By Franklin C. McRoberts on March 20, 2023

Posted in Deadlock, Derivative Actions, Dissolution Basics, Dissolution Defenses, Dissolution Procedure, Family-Owned Businesses

In this week’s New York Business Divorce, read about a multi-year litigation odyssey culminating in the statute-of-limitations dismissal of a claim for misappropriation of an alleged corporate opportunity to own land based upon the date of execution of the contract of sale rather than the closing of the real estate purchase.
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A Recurring Business Divorce Feature: Usurpation of Corporate Opportunity

By Peter J. Sluka on October 3, 2022

Posted in Delaware, Derivative Actions, LLCs

A claim for “usurpation of corporate opportunity” is simple to allege, but difficult to prove. Two recent cases out of the Manhattan Commercial Division and the U.S. District Court for the Southern District of New York explore the bounds of the corporate opportunity doctrine under New York and Delaware law.
Continue Reading A Recurring Business Divorce Feature: Usurpation of Corporate Opportunity