Search for: "Congel v. Malfitano"
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26 Apr 2018, 2:36 pm
The New York Court of Appeals, in Congel v. [read post]
2 Apr 2018, 3:50 am
There’s a lot to digest in last week’s decision by the Court of Appeals — New York’s highest court — affirming and modifying in part the intermediate appellate court’s ruling in Congel v Malfitano, a “wrongful dissolution” case I previously covered here and here, in which a minority partner in a general partnership that owns a shopping mall, whose former 3% interest had a stipulated top-line, pro rata… [read post]
17 Oct 2022, 4:31 am
New York: Congel v Malfitano In Congel v Malfitano, a 3% partner of a general partnership that owned a large shopping mall in Poughkeepsie, New York, acting under the assumption that the partnership was at-will, gave notice of dissolution of the partnership under Section 62 (1) (b) of New York’s Partnership Law providing that a partner may cause dissolution “without violation of the agreement between the partners . . . [read post]
6 Sep 2022, 3:34 am
” The Court Grants Reargument Last March, however, the Epstein case took on new life following a motion to reargue by Epstein who argued that Steinbeck was overruled sub silentio by the Court of Appeals’ 2018 opinion in Congel v Malfitano, a wrongful partnership dissolution case that I wrote about here, in which the Court, quoting from a 1939 Court of Appeals opinion in Lanier v Bowdoin, wrote: The partners of either a general or limited partnership,… [read post]
23 May 2016, 3:22 am
Last week’s decision by the Brooklyn-based Appellate Division, Second Department, in Congel v Malfitano, 2016 NY Slip Op 03845 [2d Dept May 18, 2016], rejected the partner’s appeal from the trial court’s determination of wrongful dissolution and also upheld its valuation determination with one major exception: the appellate court held that the trial court erred by failing to apply a minority discount and that it should have applied a 66%… [read post]
16 Jan 2017, 4:30 am
The line-up of the several, discrete issues in Congel opens up a range of possible outcomes when the Court of Appeals ultimately decides the case. [read post]
6 Aug 2018, 3:15 am
In effect, “not quite,” said the Court of Appeals in Congel v Malfitano, 31 NY3d 272 [2018]. [read post]
2 Nov 2020, 4:41 am
A recent decision from Manhattan Commercial Division Justice Andrew Borrok, Weinstein v RAS Prop. [read post]
3 Sep 2018, 8:01 pm
As the Court explained in Congel v Malfitano, 31 NY3d 272 [2018], DLOM is “a deduction from the value of [an] ownership interest reflecting the relative illiquidity or deficit in marketability of the interest. [read post]
26 Nov 2018, 2:38 am
Camuso‘s holding is reminiscent of Congel v Malfitano, 31 NY3d 272 [2018]. [read post]
21 Sep 2020, 4:07 am
As the Court of Appeals stated in Congel v Malfitano, 31 NY3d 272, 288 [2018], the “partners of either a general or limited partnership, as between themselves, may include in the partnership articles any agreement they wish concerning the sharing of profits and losses, priorities of distribution on winding up of the partnership affairs and other matters. [read post]
31 Dec 2018, 3:56 am
And the winners are: Congel v Malfitano, 31 NY3d 272 [2018]. [read post]
26 Dec 2016, 3:34 am
Congel v Malfitano, 141 AD3d 64, 2016 NY Slip Op 03845 [2d Dept May 18, 2016], a controversial ruling currently before the New York Court of Appeals on a pending application for leave to appeal, in which the Second Department upheld a wrongful dissolution judgment against a minority partner and further imposed a 66% discount for lack of control on the value of the partner’s interest. [read post]
9 Jul 2018, 3:22 am
The leading case on this route to an appraisal is the recent Court of Appeals decision Congel v Malfitano, 31 NY3d 272 (2018). [read post]
22 Jan 2019, 3:45 am
” A recent decision by a Manhattan-based appeals court, Campbell v McCall’s Bronxwood Funeral Home, Inc., 2019 NY Slip Op 00182 [1st Dept Jan. 10, 2019], presents a number of interesting questions about how courts should apply Kemp & Beatley’s pronouncement that courts must consider an “adequate, alternative remedy” to dissolution in the face of a written shareholder’s agreement that provides a formula and method for buying out a… [read post]
30 Sep 2019, 4:05 am
Serendipitously, twelve years later, Justice Fahey authored New York’s most important partnership law ruling in years, the Court of Appeals’ decision shifting from from a statutory to contract-based approach to “wrongful” partner withdrawal in Congel v Malfitano, 31 NY3d 272 [2018]. [read post]
6 Jul 2021, 4:23 am
The new decision, CIP GP 2018 v Koplewicz, 194 AD3d 639 [1st Dept 2021], addresses a subject we’ve addressed on this blog many times: enforceability under New York law of oral partnership or joint venture agreements. [read post]
14 Mar 2022, 4:31 am
In Congel v Malfitano, New York’s highest court wrote that business partners are free to include in partnership contracts practically “any agreement they wish,” including about “the means by which a partnership will dissolve, or other aspects of partnership dissolution. [read post]
