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New York Business Divorce

Commentary on Dissolution and Other Disputes Among Co-Owners of Closely Held Business Entities

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It Takes Two to Remove a Tiebreaker

Photo of Peter Mahler
By Peter Mahler on December 21, 2020
Posted in Deadlock, Delaware, LLCs

Serving as the tiebreaker on a equally divided board of directors can be a thankless task, which puts it mildly when one faction sues to remove the tiebreaker. This week’s New York Business Divorce highlights a noteworthy case in which a 50% member of a Delaware LLC claimed the right to unilaterally remove the designated tiebreaker.
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