The sudden death of Alexander Calderwood, the brilliant but troubled co-founder of the Ace brand of hotels, resulted in some fierce litigation between Calderwood’s estate and Calderwood’s LLC co-member over the nature of his...more
12/27/2017
/ Appeals ,
Business Ownership ,
Contract Terms ,
Decedent Protection ,
Declaratory Judgments ,
Delaware Limited Liability Company Act ,
Discovery ,
Dismissals ,
Estate Claims ,
Fiduciary Duty ,
Limited Liability Company (LLC) ,
Operating Agreements ,
Real Party in Interest ,
Transfer of Interest ,
Wills
A dissolution petitioner received the judicial equivalent of the old quip “Where’s the beef?” in a Brooklyn appeals court decision last week reversing an order dissolving a limited liability company under Section 702 of the...more
New York’s LLC judicial dissolution statute, Section 702 of the Limited Liability Company Law, provides far more limited grounds to dissolve a business than the Business Corporation Law – a harsh reality for allegedly...more
The rules of “standing” in business divorce litigation generally require that the plaintiff have an ownership interest in the business entity at the time of the alleged wrongful conduct and, for derivative claims brought on...more
Oh, the things that can happen when the LLC members identified in the company’s operating agreement differ from those identified in official documents submitted to government agencies....more