It turns out marijuana entrepreneurships are just as susceptible to co-ownership disputes as traditional business ventures. In this week’s New York Business Divorce, we address a familiar subject – oral partnership agreements – in an exciting new context – the burgeoning New York State legal cannabis market.
Continue Reading A Bumper Crop: Cannabis Meets Business Divorce
Ostrager
Dissenting Shareholders’ Challenge to Appraisal of Famed East End Resort Hits Dead End
Former timeshare owners of the iconic Gurney’s Inn in Montauk, New York, who dissented from a cash-out merger suffered a reversal of fortune when, earlier this month, the Appellate Division, First Department, reversed the trial court’s determination of the fair value of their shares, finding that their appraiser’s evaluation of the resort property was “highly inflated.” Get the full story in this week’s New York Business Divorce.
Continue Reading Dissenting Shareholders’ Challenge to Appraisal of Famed East End Resort Hits Dead End
Does an Inactive Member of a Member-Managed LLC Owe Fiduciary Duties?
This week’s New York Business Divorce examines a noteworthy decision by Manhattan Commercial Division Justice Barry Ostrager in which he held that a member of a member-managed LLC owes fiduciary duties regardless whether the member actively participates in the LLC’s management. …
Continue Reading Does an Inactive Member of a Member-Managed LLC Owe Fiduciary Duties?