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10 Jul 2011, 1:25 pm
According to the Cook County Jury Verdict Reporter of July 1, 2011, an Elman Law Group LLC client, Simcha Smolensky, was awarded a jury verdict of $56,233 in the case Simcha Smolensky v Daniel Ilahi. [read post]
23 Jan 2023, 4:48 am
Austin in Matter of 1545 Ocean Avenue, LLC. [read post]
7 Feb 2011, 11:22 am
A leading example is New York’s Matter of 1545 Ocean Avenue, LLC v. [read post]
19 Apr 2021, 4:03 am
But the subject entity being an LLC, plaintiff’s counsel apparently recognized that an oppression claim would not fly and that the alleged squeeze-out tactics would not satisfy New York’s relatively high bar for judicial dissolution of LLCs laid down in the 1545 Ocean Avenue case, requiring a showing either that the management of the entity is unable or unwilling to reasonably permit or promote the stated purpose of the entity to be realized or achieved, or… [read post]
18 Dec 2015, 12:33 pm
Did you invest in Third Avenue Focused Credit Fund? [read post]
6 Nov 2020, 2:00 am
Construction work on the Willis Avenue Bridge caused flooding on adjacent property. [read post]
13 Nov 2023, 4:07 am
Not until the 1545 Ocean Avenue decision 11 years later (see below) was there a clear, appellate repudiation of importing the BCL standard into LLC dissolution jurisprudence. 2004: The “Statutory Operating Agreement”. [read post]
29 Apr 2016, 12:05 pm
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida. [read post]
2 Feb 2020, 7:05 am
For example, New Jersey’s statutory criteria are set out in N.J.S.A. 42:2C-46 and provide three circumstances in which the court, on application by the LLC, may order the expulsion of the LLC member. [read post]
24 Sep 2018, 2:31 am
The Court’s Dismissal of the Lawsuit The siblings filed a pre-answer motion to dismiss the complaint, arguing that its allegations failed to state a valid claim for judicial dissolution under LLC Law § 702’s not-reasonably-practicable standard as construed by the courts in the 1545 Ocean Avenue case and its progeny. [read post]
27 Aug 2018, 3:49 am
Quoting from 1545 Ocean Avenue‘s quotation of Matter of Arrow Investment Advisors, LLC, 2009 WL 1101682 (Del Ch Apr. 23, 2009), Justice Driscoll further observes that ‘[e]ven if the LLC has a broad purpose, dissolution of an LLC is permissible upon a ‘strong showing that a confluence of situationally specific adverse financial, market, product, managerial, or corporate governance circumstances make it nihilistic for the entity to… [read post]
27 Feb 2012, 8:11 pm
A 65-year-old man died today in Glenview, Illinois, after his vehicle left the roadway and struck a tree on Milwaukee Avenue. [read post]
8 Jan 2018, 3:29 am
Deadlock is not an independent basis for judicial dissolution of New York LLC’s under the governing standard adopted in the 1545 Ocean Avenue case but, as Manhattan Commercial Division Justice Saliann Scarpulla explains in her decision, when two co-equal managers are unable to cooperate, the court “must consider the managers’ disagreement in light of the operating agreement and the continued ability of [the LLC] to function in… [read post]
22 Apr 2019, 3:46 am
In 2014, Justice Kitzes dismissed NIssim’s initial dissolution claim on the basis that his oppression allegations did not meet either prong of the test for LLC dissolution decreed in the Second Department’s 1545 Ocean Avenue decision, i.e. [read post]
15 Jul 2019, 4:10 am
Case law development has been slow, as evidenced by the 16 years it took before an appellate court in the 1545 Ocean Avenue case construed the standard for judicial dissolution of LLCs under Section 702. [read post]
1 Aug 2019, 2:29 pm
The court explained that an actor’s status as an agent provides an avenue to hold the principal liable in addition to the agent under principles of attribution. [read post]
11 May 2020, 3:19 am
The LLC Dissolution Claim The legal test for judicial LLC dissolution in New York, adopted in Matter of 1545 Ocean Avenue, involves a two-fold consideration of the LLC’s ability to achieve its “stated purpose,” and whether the LLC is “failing financially. [read post]
23 Jun 2011, 5:01 pm
Embedded below is a copy of the chapter 11 bankruptcy petition of Stellar GT TIC LLC, the partial owner of an 891-unit multi-family high rise property (consisting of two 14-story apartment buildings) located at 8750 Georgia Avenue in Silver Spring, Maryland. [read post]
20 Nov 2017, 2:13 am
Both § 102 (q) of New York’s LLC Law and § 18-101 (11) of the Delaware LLC Act define “member” as someone “admitted” to the LLC. [read post]
18 Dec 2019, 5:28 am
For an example of how this new rule changes things, lets say we have two companies: Rick Innovations, LLC, an SDVOSB; and Morty Safety, LLC, a small business. [read post]
