Kalikow

Do Non-Manager, Minority LLC Owners Owe Fiduciary Duties?

By Franklin C. McRoberts on January 30, 2023

Posted in Corporate Governance, LLCs, Operating Agreement

In this week’s New York Business Divorce, read about a new decision from New York County Commercial Division Justice Andrea J. Masley addressing an important, unresolved question of New York law: whether, and if so, to what extent, do minority LLC members owe fiduciary duties?
Continue Reading Do Non-Manager, Minority LLC Owners Owe Fiduciary Duties?

Court Dismisses Fiduciary Breach, Contribution Claims Against Non-Managing LLC Member

By Peter A. Mahler on April 28, 2014

Posted in Capital Call, LLCs, Operating Agreement

In a two-member, 50/50 LLC, can Member #1 as sole managing member assert a fiduciary breach claim against non-managing Member #2? Justice Vito DeStefano recently tackled the question in Kalikow v. Shalik, highlighted in this week’s New York Business Divorce. …
Continue Reading Court Dismisses Fiduciary Breach, Contribution Claims Against Non-Managing LLC Member