This week’s New York Business Divorce jumps back into the fray of undocumented interests in LLCs with no written operating agreement, focusing on a recent court decision that found in favor of the plaintiff’s claim of membership based solely on the LLC’s tax return.
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LLC Members
Death of an LLC Member
By Peter Mahler on
In a noteworthy decision last month, Justice Orin Kitzes ruled that the executor of a deceased LLC member’s estate lacked standing to assert derivative claims against the LLC’s managers. Find out why, in this week’s New York Business Divorce. …
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Member of Real Estate LLC Never Withdrew, Held Entitled to Share of Sale Proceeds
By Peter Mahler on
It’s one thing to claim that someone never became a member of an LLC, it’s another to claim that an admitted LLC member later withdrew. Justice Stephen Bucaria addresses the latter claim in his recent decision in Gitlin v. Chirinkin, featured in this week’s New York Business Divorce.
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Are LLC Organizers Fiduciaries?
By Peter Mahler on
Posted in LLCs
The Appellate Division, First Department, broke new ground with a controversial decision earlier this month holding that LLC organizers owe a fiduciary duty when soliciting members. Read about it in this week’s New York Business Divorce.
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