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23 Jan 2023, 4:48 am by Peter Mahler
In short, there is neither any material difference in the text of Delaware’s and New York’s LLC dissolution statutes, nor any less powerful an analogy to their respective corporation law cousins governing shareholder deadlock, that logically explains why, on the one hand, Delaware jurisprudence explicitly recognizes deadlock as ground for judicial dissolution of LLCs while, on the other hand, New York jurisprudence declares deadlock as not an… [read post]
11 Jan 2010, 4:02 am by Sam Hasler
Id.Notice that this differs in several ways from the Illinois case reported by Chicago Business Litigation Lawyer Blog in LLC Members Owe Company, Manager No Fiduciary Duty, Appeals Court Rules. [read post]
23 Apr 2018, 3:41 am by Peter Mahler
On the other hand, the court in R&R Capital also deemed important that waiver of the right to seek dissolution “would not leave an LLC member inequitably remediless” which, at least arguably, would not be the case with an express waiver of the right to bring derivative claims on the LLC’s behalf. [read post]
17 Sep 2018, 3:25 am by Peter Mahler
On the other hand, she didn’t dispute that the company filed tax returns with Form K-1s reporting petitioner’s 50% membership. [read post]
11 Jan 2024, 11:01 am by Pete Strom
Call the Strom Law Firm Today for a Free Workers Comp Consultation The Strom Law Firm, LLC understands the impact that a work-related accident, injury, or illness has upon you and your loved ones. [read post]
14 Apr 2010, 10:17 am by Sarah Zanoff
Richard “Dick” Gray, the president of Retirement Values says that the company had complied with the mandate handed down by the securities board last week, saying the latest order is like “kicking someone after they’re already down. [read post]
8 Dec 2017, 10:30 pm by Christopher J. Gray
As recently discussed in our blog, on Monday, December 4, the Woodbridge Group of Companies, LLC (“Woodbridge”) of Sherman Oaks, CA, filed for Chapter 11 bankruptcy protection in Delaware Bankruptcy Court (Case No. 17-12560-KJC). [read post]
20 Oct 2010, 10:34 am by Doug
Bankrupt Escom LLC sex.com’s current owner, has sealed a deal to hand over the domain to a company called Clover Holdings Ltd, according to documents filed this week in a California court. [read post]
18 Dec 2019, 8:42 am by Lindsay Griffiths
The ILN is proud to announce our latest firm of the month, McDonald Hopkins LLC, Ohio! [read post]
In the context of LLC members, the Illinois Limited Liability Company Act (805 ILCS 180/35-1) provides for the dissolution of the company upon the application by a member or transferee of a distributional interest, upon entry of a judicial decree that the managers or those members in control of the company have acted or are acting in a manner that is oppressive and was, is, or will be directly harmful to the applican]. [read post]
28 Sep 2019, 7:55 am by Throneberry Law Group
The lawsuit names Lancaster, Pennsylvania-based Burnham LLC as the defendant, alleging the company knowingly produced and shipped products that required after-market parts made with asbestos, specifically asbestos-cement used as an insulation for the equipment. [read post]
26 Apr 2014, 2:02 pm by Francis Pileggi
The opinion details the troubled recent past of the company that owns The Philadelphia Inquirer and Daily News, and describes how ownership has changed hands many times in the last few years, with each successive wealthy optimist attempting to keep the newspapers afloat during a decline in the industry generally and an enormous reduction in the value of the company over the last ten years. [read post]
26 Sep 2022, 3:49 am by Peter Mahler
The petitioner (Davis), a 25% member through his wholly-owned company and one of the LLC’s managers, cited “irreconcilable differences” with the other members and managers who allegedly: inequitably “froze out” Davis as a manager and member; refused to pay Davis for services that the LLC agreement directs him to perform; breached fiduciary duties owed to Davis and the LLC; violated provisions in the LLC agreement including… [read post]
28 Jun 2010, 4:00 am by Peter A. Mahler
  Or so I thought, until I read a surprising decision handed down by a Manhattan appeals court earlier this month, in Roni LLC v. [read post]
7 Feb 2023, 6:12 am by Jay R. McDaniel, Esq.
  That case, however, was a very different type of litigation than a business divorce involving a handful of members of a limited liability company or shareholders in a closely held corporation. [read post]