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31 Oct 2015, 10:57 am
KKR Financial Holdings LLC, No. 629, 2014 (Del. [read post]
14 Jun 2021, 4:32 am
There was no dispute, however, that OP was profitable and that its real estate holdings were then worth about $4 million and increasing in value. [read post]
28 Nov 2018, 3:41 am
Examples of the duty of loyalty that may be imposed on a member: To account to the LLC for any LLC property that the member holds. [read post]
24 Sep 2018, 2:31 am
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]
14 Feb 2012, 12:04 pm
Voom Holdings LLC v. [read post]
2 Feb 2020, 7:05 am
These standards should govern except in the most extreme circumstances. [read post]
16 Jun 2012, 11:55 am
The Federal Circuit “now holds that the threshold objective prong of the willfulness standard . . . is a question of law based on underlying mixed questions of law and fact and is subject to de novo review. [read post]
7 Feb 2011, 11:22 am
” The LLC generally cannot be dissolved merely because of managerial self-dealing unless the above standard is met. [read post]
6 Apr 2022, 6:00 am
Agspring LLC v. [read post]
12 Jul 2010, 8:15 am
The third leg supporting the Court's decision was the LLC's incorporation of Virginia Code § 13.1-1024.1 that "requires managers to carry out their duties with 'good faith business judgment [that is in] the best interest of the [LLC].'" The incorporation of this section, according to the court, was a clear reflection of the LLC’s "intention to hold managers' actions to a certain standard. [read post]
1 Mar 2014, 5:46 am
The Supreme Court, in Chadbourne & Parke LLC v. [read post]
8 Apr 2014, 1:06 pm
PBF Holding Company LLC intervened on [...] [read post]
14 Dec 2009, 11:47 am
Acceleron LLC after the jump. [read post]
21 Aug 2017, 3:33 am
The typical, broad purpose clause found in untold thousands of standardized and customized LLC agreements provides that the LLC’s purpose is “any lawful business,” mirroring Section 201 of the LLC Law (“A limited liability company may be formed under this chapter for any lawful business purpose or purposes”). [read post]
21 Aug 2017, 3:33 am
The typical, broad purpose clause found in untold thousands of standardized and customized LLC agreements provides that the LLC’s purpose is “any lawful business,” mirroring Section 201 of the LLC Law (“A limited liability company may be formed under this chapter for any lawful business purpose or purposes”). [read post]
26 Apr 2022, 8:50 am
Delaware is the gold standard for Corporation and LLC law. [read post]
13 Mar 2017, 12:42 pm
From the Desk of Jim Eccleston at Eccleston Law LLC: Blaine Aikin, who recently took over as chairman of the CFP Board of Standards, has proposed an initiative to develop new standards of professional conduct for CFP designees. [read post]
8 Jan 2018, 3:29 am
” The plaintiff in this case, who sued to reverse his expulsion as a member of a realty-holding LLC, and sought an injunction requiring his reinstatement during the lawsuit’s pendency, failed to satisfy the high standard for such relief. [read post]
13 Nov 2023, 4:07 am
Monroe County 2004), an LLC member sought judicial dissolution of an LLC not under Section 702, but under the far more liberal standards in Partnership Law Section 62. [read post]
1 Nov 2021, 2:57 am
The Trial Court’s Valuation in Pourmoradi Pourmoradi involves a realty-holding LLC with two 50% members who deadlocked over whether to restructure a secured loan or sell the property. [read post]
