Search for: "Farro v Schochet"
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25 Jan 2021, 4:36 am
In the Direct Claims Appeal, LMEG Wireless, LLC v Farro, ___ AD3d ___, 2021 NY Slip Op 00164 [2d Dept Jan 13., 2021], the Court ruled: LMEG, Wilhelm, and Schochet’s claims for breach of oral agreements to sell LMEG to third-party private equity firms were not unenforceable under the so-called “doctrine of definiteness. [read post]
8 Feb 2021, 4:00 pm
In Farro v. [read post]
18 Jan 2021, 2:11 am
Initially, Farro alleged that Schochet did not own a membership interest in LMEG. [read post]
6 May 2024, 3:32 am
By 2011, LMEG had three one-third owners: Zalman Schochet, Levi Wilhelm, and Menachem Farro. [read post]
27 Dec 2021, 12:37 am
And the winners are: Farro v Schochet The Appellate Division, Second Department’s January 2021 decision in Farro, in which my firm represented the winning majority LLC members, is bound to have long-lasting consequences for LLC owners and, in particular, for LLCs whose majority members retain statutory default rights to implement cash-out mergers as a means of involuntarily dissociating minority members. [read post]
12 Jun 2023, 2:27 am
The Panel discussed the watershed New York case of Farro v Schochet (summarized in this post), which held that a frozen-out minority member’s sole recourse is to dissent from the merger and pursue an appraisal proceeding to determine the fair value of their interest, and that, to quote the Second Department, “no exception exists for alleged fraud or illegality in the procurement of the merger. [read post]
13 Nov 2023, 4:07 am
Another is Barone v Sowers, 128 AD3d 484, 10 N.Y.S.3d 2 [read post]
