If you’ve spent any time around startup equity, you’ve probably heard someone describe the standard 90-day post-termination exercise window as a “trap for the well-meaning employee”. That is a little dramatic, but not entirely wrong. When an employee leaves the
The New York State Legislature recently enacted the Pied‑à‑Terre Tax (PAT) Surcharge, introducing a significant, additional annual real estate tax on certain high-value New York City residential properties that are not the owner’s primary residence – including single family residences,
Some business divorce cases are about money. Others are about control. Today’s case, Homapour v 3M Properties LLC, 2026 NY Slip Op 04371 (1st Dept 2026), is about both.As we often see with second and third generation closely-held family
Here we go again.My last outing on this blog analyzed a dispute over the consequences of a limited partner’s failure to meet a mandatory capital call. There, the Manhattan-based Appellate Division, First Department, held that under the Delaware limited
When does a litigant’s persistence (and perhaps, stubbornness) cross the line into sanctionable conduct? That is the question at the heart of Cortlandt St. Recovery Corp. v. TPG Capital Management, L.P., et al. (Index 651176/2017), a Commercial Division decision by
Nothing on earth is more effective at dividing family than money. At New York Business Divorce, we’ve encountered almost every manner of money-driven intrafamily business litigation. Husband versus wife. Father versus son. Brother versus brother. Brother versus
Having counseled investors through dozens of venture transactions in New York and beyond, I can say with confidence that due diligence isn’t a checkbox exercise. It’s the process of stress-testing every material assertion made during the fundraising process and, just
Spoliation sanctions in the Commercial Division exist on a spectrum—from cost-shifting and adverse inferences to the ultimate sanction of striking a pleading. But where exactly is the line between gross negligence and the kind of “willful or contumacious” conduct that
Can an LLC operating agreement strip a minority member of the right to sue derivatively—simply by requiring majority approval before anyone commences litigation “involving the Company”? An arbitrator in New York thought so, and a New York court confirmed it.
New York LLCs without operating agreements are as common as noodles in Naples. Most function just fine without one. Their members just rely upon the statutory default rules found in the New York Limited Liability Company Law (the “LLC Law”)
