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13 Feb 2023, 4:55 am by Franklin C. McRoberts
“Failing to pay tax liabilities is corporate mismanagement,” ruled the Court in Fernandes v Matrix Model Staffing, Inc. (2022 NY Slip Op 31317(U) [Sup Ct, NY County 2022]), “which defeats a petitioner’s reasonable expectations sufficient to constitute oppression” under Section 1104-a of the Business Corporation Law (the “BCL”). [read post]
4 Feb 2019, 3:18 am by Peter Mahler
” Advanced 23, LLC v Chambers House Partners, LLC, 2019 NY Slip Op 30173(U) [Sup Ct NY County Jan. 22, 2019]. [read post]
20 Feb 2017, 3:33 am by Peter Mahler
An earlier post on this blog, examining a post-trial decision in Matter of Digeser v Flach, 2015 NY Slip Op 51609(U) [Sup Ct Albany County Nov. 5, 2015], described the minority shareholder’s dissolution claim under Section 1104-a of the Business Corporation Law as a “classic case of minority shareholder oppression. [read post]
22 Jan 2019, 3:45 am by Franklin C. McRoberts
In the heart of the decision, the Court held: [U]nder the totality of the circumstances, a remedy short or other than dissolution constitutes a feasible means of satisfying both petitioner’s expectations and the rights and interests of the other shareholder. [read post]
30 Jan 2020, 10:24 am by Simon Lester
[v] Here, we do not seek to describe the precise modalities of the IAAA,[vi]  or explore its potential political effects. [read post]
5 Nov 2018, 3:21 am by Peter Mahler
In Sobol v Les Pieds Nickels, Inc., the Appellate Division, First Department, affirmed the lower court’s denial of the respondent shareholder’s request for permission to file an untimely election made eight years after the dissolution proceeding’s commencement. [read post]
9 Apr 2018, 3:49 am by Peter Mahler
The family-owned business at the center of Vaccari v Vaccari, 2018 NY Slip Op 30546(U) [Sup Ct NY County Mar. 28, 2018], decided last month by veteran Manhattan Commercial Division Justice Eileen Bransten, is a classic example of fraying family bonds in the successive ownership generations caused by divergent career interests and sibling sense of injustice over disparate treatment by their parents. [read post]