This week’s New York Business Divorce presents an informative interview on the topic of business divorce litigation with the Honorable Justice Ira B. Warshawsky, who recently retired after 25 years on the bench. You won’t want to miss it.
Continue Reading The Judicial Perspective on Business Divorce Litigation: Interview with Hon. Ira B. Warshawsky
With about 1,300 pizzerias in New York City, it’s inevitable that some of them wind up the subject of involuntary corporate dissolution proceedings, such as the one recently decided by Nassau Commercial Division Justice Ira Warshawsky in Matter of DiMaria involving a petition brought by a minority owner alleging shareholder oppression and majority owners counter-alleging that the petitioner himself engaged in wrongful conduct. Learn more in this week’s New York Business Divorce.
Continue Reading Pizza Wars of the Shareholder Kind
When you can’t be a fly on the wall, a discreetly placed tape recorder may be the next best thing. That, at least, is one of the lessons taught by Feinberg v. Silverberg, decided last month by Nassau County Justice Ira Warshawsky, in which the court granted a preliminary injunction in a shareholder dispute based on tape recordings that captured the defendant planning to oust his business partner. Don’t miss it in this week’s New York Business Divorce.
Continue Reading “So If We Shut the Lights on This Sucker” and Other Things Not to Say on Tape When Squeezing Out a Fellow Shareholder
A recent decision by Nassau County Commercial Division Justice Ira Warshawsky in Bombard v. Xitenel, Inc. takes a fresh look at the contract-based rules surrounding a disputed claim of stock ownership in a company operating a genetics-testing laboratory. It’s in this week’s New York Business Divorce.
Continue Reading Failure to “Seal the Deal” Dooms Suit to Enforce Minority Stock Ownership Claim
A decision last month by Nassau County Commercial Division Justice Ira Warshawsky, and two recent decisions by the Delaware Chancery and Supreme Courts, clarify issues of standing and scope in proceedings under the business corporation and LLC statutes for inspection of company books and records. Read more in this week’s New York Business Divorce.
Continue Reading New York and Delaware Courts Clarify Petitioner Standing to Bring Books and Records Proceedings
This week’s New York Business Divorce highlights the contributions of the Nassau County Commercial Division Justices Stephen Bucaria, Ira Warshawsky and Timothy Driscoll to the body of business divorce case law, also featuring three of their recent decisions.
Continue Reading New Decisions of Interest by Nassau County’s Commercial Division Judges
The Appellate Division, Second Department’s breakthrough decision in the 1545 Ocean Avenue case, in which the court redefined the standard for judicial dissolution of LLCs, recently marked its one-year anniversary. This week’s New York Business Divorce looks at several recent trial court decisions by Justices Warshawsky, Strauss and Pines in LLC dissolution cases to see how the new standard has fared.
Continue Reading The Emerging Influence of 1545 Ocean Avenue on Judicial Dissolution of LLCs
What do three recent decisions by the Wisconsin Supreme Court, the Appellate Division in Albany, and Nassau County Justice Ira Warshawsky have in common? They all involve disputes over poorly designed buyout agreements that fail to define critical terms. It’s in this week’s New York Business Divorce.
Continue Reading Failure to Define Terms in Buyout Agreements Leads to Litigation Woes
This week’s New York Business Divorce revisits the buy-out valuation contest going into its third year in Sassower v. 975 Stewart Avenue Associates, LLC, on the occasion of a recent decision by Justice Ira B. Warshawsky rejecting the parties’ dueling motions for summary judgment on the question whether the mortgage balance should be deducted from the subject company’s sole real estate asset in determining the purchase price of the minority interest being valued.
Continue Reading Sassower Case Illustrates Anew the Price of Poorly Drafted Buy-Sell Agreement
In two recent decisions, courts in Delaware and New York addressed obligations of non-managing members of LLCs to maintain the confidentiality of company trade secrets. These cases provide important lessons for attorneys who prepare LLC operating and employment agreements. It’s in this week’s New York Business Divorce.
Continue Reading Keeping the Gag on Ex-Business Partners: LLCs and Confidentiality Agreements