Controlling shareholders who oppose corporate dissolution proceedings may be tempted to use company funds to pay their legal fees. This week’s New York Business Divorce features a decision by Justice Orin Kitzes holding in contempt of court a majority shareholder who did just that,
Continue Reading Court Holds Shareholder in Contempt for Using Company Funds to Pay Legal Fees
Justice Richard Platkin’s decision last month in O’Connor v. Coccadotts, Inc., denying a dissolution petitioner’s preliminary injunction motion after the respondent elected to purchase the petitioner’s shares, focuses attention on the interim remedies available to ensure that the eventual fair-value award will be paid. Learn more in this week’s New York Business Divorce.
Continue Reading Post-Buyout Election Interim Remedies: Bond, Injunction, or Both?
A recent decision by Westchester Commercial Division Justice Alan D. Scheinkman in Briarcliff Solutions Holdings, LLC v. Fifth Third Bank (Chicago) takes the spotlight in this week’s New York Business Divorce, featuring a battle for control of the company’s Board of Directors and, ultimately, control of a lawsuit asserting claims against one ownership faction. Don’t miss it.
Continue Reading Whose Lawsuit Is It Anyway?
An unusual shareholders’ agreement leads to unusual, concurrent arbitration and judicial proceedings in a shareholders’ battle for control of a Brooklyn restaurant business. Read about Justice Carolyn Demarest’s recent decision in Boz Export & Import v. Karakus in this week’s New York Business Divorce.
Continue Reading Concurrent Arbitration and Court Proceedings in Shareholder Dispute? It Can Happen.
The order to show cause is a critical document drafted by the petitioner’s counsel for signature by the judge when initiating a corporate dissolution proceeding. This week’s New York Business Divorce offers a drafting primer using some illustrative forms.
Continue Reading Dissecting the Order to Show Cause in Corporate Dissolution Proceedings