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?
Continue Reading Court-Ordered LLC Buy-Outs: What’s the Valuation Date?
Those interested in the evolving law of LLC dissolution won’t want to miss this week’s New York Business Divorce featuring a case called Mizrahi v. Cohen decided last week by Justice Carolyn Demarest in which she ordered dissolution of a financially failing real estate holding company.
Continue Reading Court Orders Dissolution of Unprofitable Real Estate LLC
This week’s New York Business Divorce looks at two recent decisions by Justices Stephen Bucaria and Emily Pines granting “outside the box” remedies in LLC dissolution cases, one involving buyout and the other involving appointment of a temporary receiver to act as monitor of financial records.
Continue Reading Judges Thinking Outside the LLC Dissolution Box
Last week the Appellate Division, Second Department, affirmed a lower court’s order directing an “equitable” buyout of an LLC member who petitioned for dissolution, notwithstanding the omission of a buyout remedy in the LLC Law. Read about this important ruling in this week’s New York Business Divorce.
Continue Reading Appeals Court Upholds Equitable Buyout Remedy in LLC Dissolution
A post-trial decision by Westchester Supreme Court Justice Alan Scheinkman tackles a novel remedial issue in an LLC dissolution involving 50-50 partners who went from friendship to fisticuffs over their vending machine business. Read about it in this week’s New York Business Divorce.
Continue Reading Court Orders Return of Investment as Equitable Remedy in LLC Dissolution Proceeding