discontinuance

Withdraw a Dissolution Claim? Not So Fast

By Franklin C. McRoberts on April 17, 2017

Posted in Buyout, Dissolution Basics, Standing

This week’s New York Business Divorce authored by Frank McRoberts focuses on a relatively rare issue decided by Albany Commercial Division Justice Richard Platkin involving a dissolution petitioner’s request for permission to withdraw the dissolution claim in order to defeat the majority’s buy-out election.
Continue Reading Withdraw a Dissolution Claim? Not So Fast

Once Opened, The Door to Judicial Dissolution and Buy-Out Is Hard to Close

By Peter A. Mahler on October 24, 2016

Posted in Buyout, Derivative Actions, Dissolution Basics, Grounds for Dissolution

The lesson of the case highlighted in this week’s New York Business Divorce is simple: Don’t file for dissolution under the shareholder oppression and looting statute unless you’re prepared for the opposing shareholders to elect to purchase your shares for fair value, because you may not be able to walk it back.
Continue Reading Once Opened, The Door to Judicial Dissolution and Buy-Out Is Hard to Close