Internecine litigations involving family-owned close corporations generate some of the murkiest fact patterns and knottiest legal issues known to the courts. This week’s New York Business Divorce looks at one such case, recently decided by Justice Bernard J. Fried, involving a family fight over a dissolved corporation, a second corporation with the same name,and real estate sale proceeds.
Continue Reading Court Permits Direct Rather Than Derivative Recovery in Post-Dissolution Action Against Controlling Shareholder for Misappropriation of Assets Held by Second Corporation Found to be “Mere Continuation” of Dissolved Corporation