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Partnership and Similar Agreements - Douglas W. Lubic, Esq.
Running a restaurant with business partners can be rewarding, but even the strongest partnerships face moments of disagreement. When those disagreements escalate into a deadlock—where neither party can move forward—it can...more
Partnership disputes are common in the restaurant industry, where high-stress environments, financial pressures, and differing business visions can create tension between partners. If not handled properly, these disputes can...more
Problems with a partner? You’re not alone. Our law firm routinely fields calls from business owners seeking to remove a partner who is inactive, engaging in unethical or illegal behavior, or otherwise disrupting operations....more
Many prior LLC Jungle posts have addressed statutory buyouts for LLC, partnership, and corporate interests. Some of those posts cover various efforts to defeat a pending statutory buyout through various means — dissolution...more
Last week, TZP Management Associates, LLC (TZP), a New York-based private equity investment adviser, agreed to pay more than $680,000 in monetary relief to settle charges brought by the Securities and Exchange Commission...more
In a real-life case of adding insult to financial injury, companies harmed by the disloyal actions of their former partners, officers, managers or employees (the “former insiders”) may also have to pay their legal fees when...more
Running a restaurant with business partners can be a rewarding venture, but partnerships don’t always go as planned. Disagreements, financial troubles, and breaches of fiduciary duty can create conflicts so severe that...more
Walkers successfully represented the respondent limited partner in appeal proceedings filed by the General Partner (the "GP") of One Thousand & One Voices Africa Fund I, L.P. (in Voluntary Liquidation) (the "Partnership"),...more
In the fast-paced and high-stakes world of restaurant ownership, conflicts among business partners can arise from financial disagreements, operational decisions, or differing visions for the restaurant’s future. When disputes...more
A recent decision from one of our favorites, Albany County Commercial Division Justice Richard M. Platkin, is a reminder to would-be assignees of limited partnership interests that without total compliance with the terms and...more
Friends don’t let friends do business with friends. Among the key Business Court takeaways here at the blog, this maxim rings loud and clear. So, when decade-long friends Jared Londry and Daniel Farrar went into the real...more
In its May 22, 2025, memorandum opinion, the Business Court of Texas dismissed all claims against Christopher Doyle (PEC’s CEO) and certain Blackstone-affiliated entities. The Court held that § 13.9 of the Third Amended...more
Under ancient (some would argue vestigial) common-law rules of general partnerships, partners can find themselves stuck between a rock and a hard place deciding when to pull the trigger on a lawsuit....more
Only six months into a complicated partnership dispute, the Business Court of Texas, 1st Division, issued a thorough summary judgment opinion and order in the case of Primexx Energy Opportunity Fund, LP v. Primexx Energy...more
Choosing the right business structure is critical for the operation of a business. General and limited partnerships are common business structures for those wanting to enter business together. While both partnerships offer...more
This month’s bid protest roundup highlights one decision from the U.S. Court of Appeals for the Federal Circuit, addressing a proposal timely submitted but received late, and two decisions from the U.S. Government...more
The Maryland Office of Social Equity (OSE) is an office within the Maryland Cannabis Administration (MCA). Its purpose is to promote and encourage participation in the regulated cannabis industry by communities that have...more
On December 18, 2024, the Delaware Supreme Court (the “Court”) held in LKQ Corp. v. Rutledge that forfeiture-for-competition provisions in employee equity award agreements are enforceable in certain contexts. This article...more
In today’s dynamic market, brand partnerships with artists and musicians have become a powerful strategy for companies looking to enhance their visibility and connect with active and aligned audiences. These campaigns can...more
Here’s What Happened This dispute arose from the operations of 409 North Camden, LLC, which owns a two-story office building in Beverly Hills. The property's history dates back to 1963, when six friends purchased it as...more
While there is tremendous diversity from state to state when it comes to statutory and judge-made law in business divorce cases, business valuation principles are—with a few notable exceptions—far more homogenous. So it...more
The era of the old-fashioned general partnership long ago petered out, largely displaced by subchapter S corporations and, in the last few decades, limited liability companies, both of which allow pass-through taxation...more
PIP (partners' interests in the partnership) allocations are very commonly used in partnership agreements. For this reason, Investors and managers should understand the basics of PIP allocations and whether and when they...more
How often do hopeful beneficiaries of a last will and testament expect to receive what they think will be a valuable bequest of a business interest, only to find their joy turn to despair when they discover the bequest...more
Welcome to this 14th annual edition of Summer Shorts. This year’s edition features brief commentary on three recent decisions by New York courts in business divorce cases. The featured cases involve a suit pitting three...more