Search for: "Matter of Jacobs v Cartalemi"
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5 Jan 2018, 9:04 am
In Matter of Jacobs v. [read post]
11 Dec 2017, 3:28 am
The case, Matter of Jacobs v Cartalemi, was decided last week by the Appellate Division, Second Department, along with two decisions in companion appeals in related cases in which the court held that upon withdrawal the minority member also lost his standing to pursue derivative claims against the controlling member. [read post]
21 Sep 2020, 4:07 am
In Jacobs v Cartalemi, now the leading case on the subject of LLC member withdrawal (which our firm had the pleasure of litigating), the Appellate Division – Second Department repeated a well-established principle of law: “The right to an accounting is premised upon the existence of a confidential or fiduciary relationship and a breach of the duty imposed by that relationship respecting property in which the party seeking the accounting has an interest. [read post]
2 Jan 2018, 3:03 am
Jacobs v Cartalemi, __ AD3d __, 2017 NY Slip Op 08521 [2d Dept Dec. 6, 2017], in which the appellate court held that a minority member who voluntarily withdrew from the LLC was not entitled to a fair-value buyout under LLC Law § 509 based on the operating agreement’s superseding right-of-first-refusal provisions. [read post]
5 Sep 2023, 4:21 am
First, the First and Second Departments once held that “[t]he right to an accounting is premised upon the existence of a confidential or fiduciary relationship and a breach of the duty imposed by that relationship respecting property in which the party seeking the accounting has an interest” (Jacobs v Cartalemi, 156 AD3d 605, 608 [2d Dept 2017] [quoting Palazzo v Palazzo, 121 AD2d 261, 265 [1st Dept 1986]]). [read post]
21 Mar 2022, 4:29 am
Second, the equitable accounting claim is premised not only on a fiduciary relationship between the plaintiff and the fiduciary, but also on “a breach of the duty imposed by that relationship respecting property in which the party seeking the accounting has an interest” (Jacobs v Cartalemi, 156 AD3d 605, 608 [2d Dept 2017] [covered in this post]). [read post]
9 Jul 2018, 3:22 am
In the Matter of Carolina Gardens v Menowitz, Trial Order, Index No. 112637/1995 [Sup Ct, NY County Feb. 23, 1995]). [read post]
13 Nov 2023, 4:07 am
In Matter of Spires v Lighthouse Solutions, LLC, 4 Misc.3d 428, 778 N.Y.S.2d 259 (Sup. [read post]
