punitive damages

Bad Things Can Happen When You Steal a Business from a Minority Co-Owner

By Franklin C. McRoberts on October 29, 2023

Posted in Attorney's Fees, Expulsion and Removal, Freeze-Out Merger

In this week’s New York Business Divorce, read about a rare punitive damages award in a business divorce case after a majority owner misappropriated a 25% interest in a sushi restaurant, secretly transferred the entity’s assets to another he owned, then dissolved the original, all unbeknownst to the minority owner. …
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Will the Pandemic Be a Boon for Future LLC Dissolution Claimants?

By Franklin C. McRoberts on May 11, 2020

Posted in Deadlock, Derivative Actions, Dissolution Basics, LLCs, Standing

In this week’s New York Business Divorce, we consider a remarkably thoughtful opinion by Commercial Division Justice Jennifer G. Schecter containing some noteworthy hints about the future of LLC dissolution claims in light of the coronavirus pandemic and its catastrophic economic impact on New York closely-held businesses.
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