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5 Aug 2022, 12:15 am
Accordingly, the trial court was required to dismiss the buy-out proceeding and direct the parties to proceed with the winding up of the LLC. [read post]
1 Apr 2013, 3:34 am
He also argued that the buy-out was authorized by the Second Department’s decision in Matter of Superior Vending, LLC, 71 AD3d 1153 (2d Dept 2010), which upheld an order in an LLC dissolution case directing the controlling member to repay the non-controlling member his investment in the LLC in exchange for his membership interest as “the most equitable method of liquidation. [read post]
31 Mar 2023, 3:00 pm
appeared first on Zamansky LLC. [read post]
22 Jun 2015, 3:22 am
Bucaria, noted that the LLC Law does not expressly authorize a buy-out in a dissolution proceeding, but that “a buy-out may be an appropriate equitable remedy” in certain circumstances. [read post]
18 Feb 2013, 11:03 pm
In Lyons, the Appellate Division, First Department, held that the absence of a provision in the LLC Law expressly authorizing a buy-out in a dissolution proceeding does not preclude a trial court from granting the parties “mutual buy-out rights,” and that “it is an equitable method of liquidation to allow either party to bid the fair market value of the other party’s interest in the business, with the receiver directed to accept… [read post]
15 Jan 2019, 3:32 am
Look to the operating agreement for directions on how to amend the LLC’s terms. [read post]
4 Jan 2013, 8:00 am
Portfolio Recovery Associates, LLC (9th Cir. 10/12/12) (discussed here). [read post]
27 May 2011, 8:39 am
Cheniere subsidiary Sabine Pass Liquefaction, LLC has submitted a Request for Declaratory Order from FERC declaring that Cheniere’s proposal to offer bi-directional LNG import and export services, including transportation on the Creole Trail interstate pipeline, at the Sabine Pass LNG facility does not violate FERC's capacity release rules, particularly the rules prohibiting buy/sell transactions. [read post]
25 Sep 2018, 8:26 am
The post How to Plan for Exiting an LLC appeared first on IncNow. [read post]
16 Jan 2019, 3:38 am
If the LLC has a buy-sell agreement in place, that must also be consulted. [read post]
2 May 2016, 3:09 am
The plaintiff brought suit seeking a declaration that he is a member of the LLC and access to its books and records, and also demanding either dissolution or a compelled buy-out of his one-third membership interest. [read post]
16 Jul 2010, 8:15 pm
The financial manager makes all decisions about what to buy and sell subject to your stated objectives. [read post]
14 Mar 2019, 12:59 pm
These companies buy up debts and information on collecting them from other companies. [read post]
15 Feb 2021, 4:18 am
It’s not unusual to find buy-out provisions in shareholder and operating agreements that commit the pricing of the buy-out to the “final and binding” determination of one or more appraisers. [read post]
27 Jan 2020, 3:58 am
In 2018, they filed another lawsuit against the controlling members of the LLC (the “Related Action”), asserting both derivative and direct claims for breaches of fiduciary duty and the operating agreement, and seeking damages and an accounting. [read post]
13 Mar 2012, 11:18 am
How to Simplify Buying a Lakefront Home. [read post]
10 Mar 2014, 6:42 am
I do not think a directions for inheritance of an LLC interest expressed in an operating agreement would even be binding. [read post]
20 Jun 2011, 6:58 am
Strong leadership provided direction without getting mired down in ‘buy-in’ paralysis. [read post]
22 Feb 2016, 7:13 pm
(Things are sometimes different for single-member LLCs, so we’ll limit this discussion to multi-member LLCs.) [read post]
23 Oct 2023, 4:44 am
True, on a couple of occasions New York appellate courts have ordered buy-outs in LLC dissolution cases. [read post]