You’d think amidst the COVID-19 pandemic, with restaurants struggling to stay open, that their owners would have more pressing issues to deal with than litigating against their co-owners, but as you’ll see in this week’s New York Business Divorce, some things never change.
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Masley
The Pre-Suit Demand Requirement for a Corporation in Liquidation or Receivership

In this week’s New York Business Divorce, we consider a thoughtful decision from Manhattan Commercial Division Justice Andrea J. Masley about the rules for pleading pre-suit demand or demand futility upon a “liquidator” appointed to wind up the affairs of the corporation, including the rarely-litigated concept that allegations of pre-suit demand or demand futility can potentially “relate back” to a prior pleading that is “validly in litigation.”…
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IP Disputes Among Private Business Co-Owners Dominate Three Recent Cases

Intellectual property rights are the lifeblood of many a closely held business entity. This week’s New York Business Divorce looks at three recent decisions involving disputes among business co-owners over the ownership and exploitation of critical IP assets.…
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Think Twice Before Putting 100% Quorum Requirement in By-Laws or LLC Agreement

This week’s New York Business Divorce examines an unusual case centering on an atypical quorum provision in an operating agreement requiring the presence of all managers in order to conduct any business.…
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No Prize for Nobel Laureate in Fight for Bigger Stake in Biotech Company

The parol evidence rule blocks the claims of a Nobel laureate based on an alleged oral stock allocation agreement in the shareholder dispute featured in this week’s New York Business Divorce. Don’t miss it!…
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