Repurchase

Good Faith Trumps Sole Discretion in LLC Agreement’s Repurchase Provision

By Peter A. Mahler on August 15, 2016

Posted in Buyout, LLCs, Operating Agreement, Valuation

Manhattan Commercial Division Justice Anil Singh’s recent decision in Saleeby v Remco Maintenance teaches some valuable lessons about how not to draft stock or membership interest redemption provisions in executive employment agreements. It’s in this week’s New York Business Divorce. …
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Delaware Supreme Court: No Duty to Buy Out Minority Stockholder

By Peter A. Mahler on January 27, 2014

Posted in Buyout, Delaware

None too surprisingly, last week the Delaware Supreme Court in Blaustein v. Lord Baltimore Capital Corp. affirmed a Court of Chancery decision dismissing the contention that directors of closely held Delaware corporations have a common-law fiduciary duty to redeem the stock of a minority shareholder. Read more in this week’s New York Business Divorce. …
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