One might assume that pending legal matters at the time of a law partnership’s dissolution are firm assets or property. Not so, held the New York Court of Appeals in a ruling that practically guarantees prolonged litigation over the correct valuation and allocation of contingency fee cases when law partnerships dissolve. Read about one recent example in this week’s New York Business Divorce.
Faithless Servant in Business Divorce Cases
By Franklin C. McRoberts on
Posted in Family-Owned Businesses, Federal vs. State Court
In this week’s New York Business Divorce, read about the faithless servant doctrine as it expands from the law of agency and employment to business divorce. …
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Court Upholds Complaint Seeking Common Law Dissolution of Family-Owned Business
By Peter A. Mahler on
Posted in Common Law Dissolution, Family-Owned Businesses
In New York, the common law right to judicial dissolution of a closely held corporation has existed for about 50 years, but there have few reported cases on the subject, which gives all the more reason to read this week’s New York Business Divorce highlighting an important decision earlier this month by Justice Alan Scheinkman in White v. Fee, denying a motion to dismiss a common law dissolution claim involving a family-owned business.
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