The BCL § 1118 buyout election is a mighty litigation tool, capable of thwarting judicial dissolution, capable even of thwarting an injunction. But it is not a panacea. Read about the powers and limitations of the statutory buyout election in this week’s New York Business Divorce.
Continue Reading The BCL § 1118 Buyout Election: A Powerful Defense. With Limits.
Cross-border business divorce disputes continue to bedevil New York’s commercial courts, forcing them to grapple with difficult conflicts-of-laws questions. We feature the latest instance on this week’s New York Business Divorce.
After three years of litigation, can a petitioner abruptly withdraw a business dissolution proceeding without consequences? A recent decision from Justice Reed in the New York County Commercial Division answers that question with a decisive “No.”
Continue Reading Indecision Has a Price: Withdraw Lawsuit, Pay Hefty Fee Award
This week’s New York Business Divorce focuses on the legal hurdles litigants and their counsel must overcome to discover an opponent or non-party’s confidential tax records and information.
In this week’s New York Business Divorce, read about the Appellate Division – First Department’s important decision last Friday clarifying how courts must apply the internal affairs doctrine to the question of standing to sue in derivative cases involving non-New York incorporated entities.
Continue Reading Derivative Standing and the Internal Affairs Doctrine
In this week’s New York Business Divorce, read about the unhappy consequences under the “informal dissolution” doctrine to befall a corporate director who effectuated the liquidation of a defunct corporation’s assets without providing statutory notice of dissolution to the entity’s creditors.
Continue Reading “Informal Dissolution” and Individual Liability