Verkhoglyad

Do Non-Manager, Minority LLC Owners Owe Fiduciary Duties?

By Franklin C. McRoberts on January 30, 2023

Posted in Corporate Governance, LLCs, Operating Agreement

In this week’s New York Business Divorce, read about a new decision from New York County Commercial Division Justice Andrea J. Masley addressing an important, unresolved question of New York law: whether, and if so, to what extent, do minority LLC members owe fiduciary duties?
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Read This Case. Slap Your Head. Not Too Hard.

By Peter A. Mahler on September 25, 2017

Posted in Arbitration and Mediation, Dissolution Defenses, Foreign Business Entities, LLCs

Did the parties get it wrong, or the judge, or both in Verkhoglyad v Benimovich, in which the court let proceed a claim to dissolve a foreign business entity and refused to enforce forum selection and pre-suit mediation clauses in the operating agreement of a New Jersey LLC. Learn more in this week’s New York Business Divorce. …
Continue Reading Read This Case. Slap Your Head. Not Too Hard.