Search for: "FAIR COMPANIES, LLC"
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18 Nov 2019, 3:47 am
The complaint alleges that the LLC dissolved under the terms of the operating agreement upon the death intestate of one of the original members in 2007; that the deceased member’s economic interest passed by operation of law to his niece and nephew who “never became members of the Company”; and that “in order to wrongly perpetuate their own lucrative management fees and other self-dealing, Defendants have failed and refused to wind up the… [read post]
25 Apr 2008, 4:54 pm
This includes any lawsuit filed by CACH, LLC. [read post]
22 Apr 2019, 3:46 am
In that case, the LLC’s accountant testified that the LLC’s monthly expenses exceeded by $12,000 its monthly revenues, and that but for one of the member’s loans to the LLC, the mortgaged property faced foreclosure. [read post]
23 Feb 2018, 6:10 am
In this decision, a minority member of an LLC alleged that the controller breached the implied covenant in an LLC operating agreement by selling the company for $43 million to a third party in a private sale, as opposed to conducting an open-market sale or auction to ensure maximum value for members under the operating agreement’s waterfall. [read post]
18 Jan 2021, 2:11 am
Background The case involves a company called LMEG Wireless LLC formed in 2003 to refurbish and sell aftermarket cell phone accessories. [read post]
22 Feb 2012, 8:05 pm
In the Matter of the Petition of Pinnacle Capital, LLC (Michael Jones), No. 3350/11, 34 Misc.3d 1215(A), 2011 N.Y. [read post]
24 Aug 2015, 6:27 am
The music industry is a hugely cut-throat business, with the 'little guy' often being dominated by the big companies that control the market and access to the more lucrative avenues within that industry. [read post]
25 Feb 2013, 3:42 am
Now take the same allegations, but this time assume the business is organized as a limited liability company (LLC) instead of a corporation, and that dissolution is sought by a minority member under §702 of the LLC Law. [read post]
26 Apr 2021, 3:19 am
For another, the financial terms of expulsion provisions tend to be punitive, returning to the expelled member substantially less than the fair value of their interest in the LLC as a going concern. [read post]
16 Nov 2013, 4:44 pm
However, according to Sections 18-1101(c) and Section 18-1101(e) of the Delaware LLC Act, members remain free to expand, restrict or eliminate fiduciary duties in their limited liability company agreement, except for one duty that they cannot make go away: the implied contractual covenant of good faith and fair dealing. [read post]
4 May 2015, 3:33 am
The Board deadlock effectively gave company control to TJC whose CFO served as Carlisle’s CEO. [read post]
21 Nov 2016, 3:20 am
Unless otherwise provided in the operating agreement, majority members of LLCs formed under New York law — and under the LLC laws in most other states — effectively can expel a minority member by implementing a merger with another company owned by the majority members. [read post]
4 Oct 2017, 9:57 am
The United States Department of Justice announced last week that Westlake Services LLC and its subsidiary, Wilshire Consumer Capital LLC, have agreed to pay $760,788 to resolve allegations the companies violated the Servicemembers Civil Relief Act (“SCRA”) by repossessing 70 vehicles owned by SCRA-protected servicemembers without obtaining the required court orders. [read post]
18 Apr 2017, 9:30 am
In Wisconsin, the most typical choices are either the Limited Liability Company (“LLC”) or corporation. [read post]
18 Apr 2017, 9:30 am
In Wisconsin, the most typical choices are either the Limited Liability Company (“LLC”) or corporation. [read post]
16 Apr 2019, 3:50 pm
He or she agrees to sell the community property interest in the event of a divorce at fair market value back to the investor, other members of LLC or LLC itself. [read post]
24 Feb 2011, 1:55 pm
The company then presses for a quick settlement. [read post]
5 Feb 2020, 4:00 am
Like any contract, these agreements are sometimes scrutinized to make sure they are actually fair to all parties. [read post]
21 Jan 2008, 3:30 am
Let's say you're one of the many thousands of business owners who have opted to organize their business as a limited liability company (LLC) rather than as a traditional shareholder corporation. [read post]
28 Oct 2015, 12:56 pm
See also LongPath Capital, LLC v. [read post]
