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Limited Liability Company (LLC) Operating Agreements Buy-Sell Agreements

Farrell Fritz, P.C.

The Little Buy-Sell That Could

Farrell Fritz, P.C. on

With apologies to the pseudonymous children’s book author Watty Piper, this is the story of a humble buy-sell provision in a family-owned LLC’s operating agreement that temporarily ran out of steam in the lower court, only to...more

Farrell Fritz, P.C.

Holes in Shotgun Buy-Sell Agreement Keep Deadlock Dissolution Petition Alive

Farrell Fritz, P.C. on

Under both New York and Delaware law, members of an LLC may petition for judicial dissolution on the grounds that the management is so hopelessly deadlocked that the LLC can no longer function in accordance with its purpose...more

Farrell Fritz, P.C.

A Shotgun Buy-Sell Agreement and an Email Deal Walk into a Beachside Bar . . .

Farrell Fritz, P.C. on

One of the more attractive features of LLCs as a business organization is that they are, in large part, creatures of contract.  Most provisions in the NY LLC Law are default rules, and members are free to adopt those or...more

Farrell Fritz, P.C.

Top 10 Business Divorce Cases of 2020

Farrell Fritz, P.C. on

I’m very pleased to present my 13th annual list of the past year’s ten most significant business divorce cases. This year’s list includes important appellate and trial court decisions in New York and Delaware on a...more

Farrell Fritz, P.C.

Lessons From a Trio of Dysfunctional Buy-Sell Agreements

Farrell Fritz, P.C. on

Three recent court decisions from three different states — New York, Pennsylvania, and Alabama — add to the rogue’s gallery of valuation cases stemming from poorly conceived and/or poorly implemented buy-sell agreements among...more

Ward and Smith, P.A.

Why Do You Need a Buy-Sell Agreement for Your Closely Held Company?

Ward and Smith, P.A. on

Why do you need a Buy-Sell Agreement for your closely held company? In a nutshell, your business partner might die, become disagreeable, or just simply lose his or her mind, and you need a set of rules to resolve the matter....more

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