PFT Technology

No Double Dipping! Court Denies Post-Valuation Date Distributions in Equitable Buyout of LLC Member

By Peter A. Mahler on March 23, 2020

Posted in Advancement and Indemnification, Buyout, LLCs, Valuation, Valuation Discounts

George Costanza would be unhappy to hear about an Appellate Division decision last week affirming a trial court ruling, among others of interest in an LLC appraisal proceeding, in which it rejected as “double dipping” a request for post-valuation date income distributions on top of the fair value award. Learn more in this week’s New York Business Divorce.
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Court-Ordered LLC Buy-Outs: What’s the Valuation Date?

By Peter A. Mahler on June 22, 2015

Posted in Buyout, Compulsory Buyout, LLCs, Valuation

In the absence of statutory authorization, a few courts have ordered equitable buy-outs in LLC dissolution cases. This week’s New York Business Divorce examines an important question in such cases: What valuation date should be used? …
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Court Rebuffs Dissolution Withdrawal in Denying Enforcement of Non-Compete

By Peter A. Mahler on April 27, 2015

Posted in Interim Remedies, LLCs, Restrictive Covenants

Can majority members of an LLC withdraw a dissolution claim, over two years into the case, for the purpose of enforcing against a minority member the LLC agreement’s non-compete provision which, by its terms, lapses upon dissolution? Find out in this week’s New York Business Divorce. …
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Novel Ruling on Advancement in LLC Dissolution Case “Levels the Playing Field”

By Peter A. Mahler on April 7, 2014

Posted in Advancement and Indemnification, Attorney's Fees, Interim Remedies, LLCs

Justice Stephen Bucaria’s recent decision in PFT Technology LLC v. Wieser is one of only a handful of rulings by New York courts addressing the right to advancement of legal fees in litigation among members of a limited liability company. Learn more in this week’s New York Business Divorce. …
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