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28 Jun 2021, 3:10 am by Peter Mahler
Managing members of manager-managed New York LLCs owe default fiduciary duties of loyalty and care to non-managing members. [read post]
2 Jun 2017, 8:18 am by Renae Lloyd
Recovery of Investment Losses in American Realty Capital New York City REIT Are you concerned about losses investing in American Realty Capital New York City REIT? [read post]
22 Feb 2018, 8:03 am by Adam Bednar
The board voted unanimously in favor of supporting a proposal from Mid-Atlantic Health Care, LLC/Baltimore Nursing and Rehabilitation Realty, and Kann Partners Thursday morning ... [read post]
4 Feb 2019, 3:18 am by Peter Mahler
” She then found that, in addition to breaching the operating agreement’s requirement to hold monthly management meetings, that the petitioner “was acting in breach of his duties of good faith and ordinary care to preserve and support the stated business purpose of [the LLC]” which included “to provide a residence for its Members. [read post]
13 Jun 2011, 12:16 am by John Steele
  Not if the lawyer worked on the project, said the California Supreme Court in Oasis West Realty, LLC v. [read post]
19 Nov 2012, 2:00 am by Peter Mahler
Liu, purporting to act on Lowbet’s behalf, in violation of the court’s October 2011 restraining order, sold the corporation’s realty for $1.6 million to an entity named 973 44th Street Realty LLC (“973 Realty”). [read post]
3 Mar 2014, 3:58 am by Peter Mahler
In 1999, the four siblings transferred ownership of the building that houses the distribution business to a newly formed limited liability company, named Caterina Realty, LLC, of which each sibling is a 25% member-manager. [read post]
24 Sep 2018, 2:31 am by Peter Mahler
Not according to Manhattan Commercial Division Justice Saliann Scarpulla whose decision last month in Yu v Guard Hill Estates, LLC, 2018 NY Slip Op 32008(U) [Sup Ct NY County Aug. 15, 2018], dismissed a minority member’s claim for judicial dissolution of two family-owned, realty-holding LLCs under Section 702 of New York’s LLC Law. [read post]
22 Oct 2018, 3:17 am by Peter Mahler
The LLC agreement (read here) contains fairly typical provisions in Article Five vesting management authority in the members collectively, listing certain major decisions requiring unanimous member consent, and requiring members to perform their duties “with due care. [read post]
11 Jan 2021, 4:46 am by Peter Mahler
 The Operating Agreement also imposed on the Managing Member duties of good faith and care mirroring the statutory duties set forth in section 409 (a) of the LLC Law. [read post]
26 Oct 2020, 3:40 am by Peter Mahler
The hearing featured testimony and reports by each side’s realty appraisers. [read post]
9 May 2016, 5:40 pm by Patricia Salkin
Lastly, the prohibition against violent criminals residing in work-release facilities was like a limitation on the number of residents permitted under Section 195–103.T(4), which the Commonwealth Court in TWL Realty, LLC v. [read post]
15 Nov 2022, 7:34 am by Ana Popovich
Allegedly, MedEquities “paid kickbacks to physicians to induce them to refer patients to a hospital developed by Lakeway Regional Medical Center, LLC. [read post]
23 May 2011, 4:00 am by Peter A. Mahler
  But, in the absence of a contrary provision in the LLC agreement, the manager of an LLC owes the traditional duties of loyalty and care to the members of the LLC. [read post]
24 Jun 2013, 3:22 am by Peter Mahler
It goes without saying that such provisions should be drafted with great care to avoid future disputes and litigation over whether a particular proposed action requires one or another level of member approval. [read post]