This week’s New York Business Divorce takes a close look at the issues surrounding the statutory right of the corporation and other shareholders to stay dissolution proceedings by electing to purchase the petitioner’s shares at fair value.
Continue Reading A Deep Dive Into the Election to Purchase in Dissolution Proceedings
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
A noteworthy decision by Justice Stephen A. Bucaria in Carrillos v Gomez, in which he ordered a shareholder buy-out at fair value in the absence of a dissolution petition, is featured in this week’s New York Business Divorce.
Continue Reading First a Judicial Nudge, Then a Push to the Buy-Out in Shareholder Dispute
Call it the case of the underwater watering hole. This week’s New York Business Divorce looks at a recent post-trial decision by Justice Carolyn Demarest ordering $1 buy-outs of the petitioners’ shares in a debt-laden business that operates a neighborhood bar.
Continue Reading Dissolution Battle Over Heavily Indebted Business Yields $1 Buy-Outs