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30 Jan 2017, 3:34 am
Based on what I see in my own practice plus the many LLC cases I follow and write about, all I can say is that there are loads of multi-member LLCs out there with no operating agreement just as there are loads of multi-shareholder close corporations with no shareholder agreement. [read post]
20 Apr 2020, 4:10 am
Within what has become a vast body of case law over the last two decades stemming from LLC internal disputes, I see two fields of member conflict that not only quantitatively occupy large swaths of that body, but also qualitatively distinguish LLC litigation from its counterpart litigation involving disputes among shareholders of close corporations. [read post]
21 Feb 2019, 5:15 am
” The post Mandamus Relief Denied: Federal Circuit Avoids Clarifying <i>TC Heartland</i> in <i>In re Google LLC</i> appeared first on IPWatchdog.com | Patents & Patent Law. [read post]
16 Nov 2021, 1:32 pm
Knapp *** Under Notice 2021-56, the IRS indicates that it will issue a favorable 501(c)(3) determination letter to an LLC if, in addition to satisfying the general requirements of 501(c)(3), it satisfies the following requirements in both its articles of organization and operating agreement: Inclusion of provisions requiring that each member of the LLC be either (i) an organization described in Code Section 501(c)(3) or (ii) a governmental unit (or… [read post]
26 May 2009, 6:48 am
A "contractual" wrong is a failure to do something you agreed to do: I gave you $20 to mow my lawn, you didn't do it, I want my money back. [read post]
22 Apr 2019, 3:46 am
I would not expect a decision until sometime in 2020. [read post]
1 Mar 2016, 10:06 pm
[The other articles in this seven-part series are here: Part I, Part II, Part III, Part IV, Part V, Part VII.] [read post]
4 May 2007, 3:56 am
" I think you know the answer. [read post]
17 Apr 2018, 8:30 am
Recall that LLCs are limited liability companies, which are a separate entity from partnership and... [read post]
2 Nov 2010, 12:17 pm
The Business Law Prof Blog mentions a pet peeve of mine: Now that LLCs are the entity of choice, I like using LLC cases for this discussion [of limited liability]. [read post]
2 Dec 2019, 3:26 am
I’ve lost track of how many lawsuits I’ve seen between co-owners of New York City restaurants. [read post]
1 Jun 2010, 4:00 am
I also suspect that the trend remains upward for LLCs in the other states at the bottom, including New York. [read post]
30 Jan 2023, 4:52 am
Takeaway From what I can tell, Doeblin becomes the third of just a trio of reported decisions including Kalikow and Lester v Capo (2016 NY Slip Op 30214(U) [Sup Ct, NY County 2016]), granting pre-answer dismissal of fiduciary duty claims against co-equal or minority LLC owners for lack of any fiduciary duty. [read post]
7 May 2018, 3:28 am
I will have [plaintiff] sign today. [read post]
20 Aug 2018, 3:18 am
I also examined the judicial dissolution grounds in five model statutes: the 1992 Prototype LLC Act, the 2011 Revised Prototype LLC Act, the 1996 Uniform LLC Act, the 2006 Revised Uniform LLC Act, and the 2013 Revised Uniform LLC Act. [read post]
24 Jun 2010, 12:09 pm
Answering the rephrased certified question in the affirmative, we hold that a court may order a judgment debtor to surrender all right, title, and interest in the debtor's single-member LLC to satisfy an outstanding judgment" I have not read the complete opinion, and I'll comment further after having done so. [read post]
25 Mar 2024, 3:25 am
While I was not privy to all of the argument before the Court, I think all those questions make it hard to square this case with the others, both at the trial and appellate level, finding that general disagreement and distrust between co-owners does not pass the high bar for judicial dissolution of an LLC (e.g., here, here, here, here, and here). [read post]
8 Nov 2017, 1:05 pm
[1] ExGen Texas Power Holdings, LLC; Wolf Hollow I Power, LLC; Colorado Bend I Power, LLC; Handley Power, LLC; Mountain Creek Power, LLC; LaPorte Power, LLC. [read post]
8 Nov 2017, 1:05 pm
[1] ExGen Texas Power Holdings, LLC; Wolf Hollow I Power, LLC; Colorado Bend I Power, LLC; Handley Power, LLC; Mountain Creek Power, LLC; LaPorte Power, LLC. [read post]
29 May 2009, 1:08 pm
I'm so glad you asked. [read post]
