Topic
LLC Dissolution
98 published works
New York Business Divorce
It Only Took 16 Years: New York Appellate Court Defines Standard for Judicial Dissolution of Limited Liability Companies
On January 26th, in a case called Matter of 1545 Ocean Avenue, LLC, the Appellate Division, Second Department, became the first New York appellate court since the LLC Law's enactment…
Delaware Corporate & Commercial Litigation Blog
Court Enforces Settlement Agreement Confirmed by Counsel for Both Parties
Wilt v. Kenyon, No. 4833-VCN (Del. Ch., Dec. 22, 2009), read letter decision here This short letter decision from the Delaware Court of Chancery addresses whether counsel for the parties…
North Carolina Business Litigation Report
Donovan v. Huffman, September 2, 2009 (Diaz)(unpublished)
The Court granted the motion to dismiss of a member of an LLC in which the Plaintiff sought dissolution, ruling that “'[i]t is not necessary to join members as parties…
New York Business Divorce
Appellate Court Affirms Caplash Ruling Rejecting Authority of 50% LLC Member to Hire Company Counsel in Proceedings Against Other 50% Member
The hiring by one 50% business owner of legal counsel to take action in the company's name against the other 50% owner is a frequent source of litigation. This week's…
Delaware Corporate & Commercial Litigation Blog
Motion for Summary Judgment on Dissolution Granted But Request for Appointment of Liquidating Trustee Denied Based on Terms of LLC Agreement
In Re Nextmedia Investors, LLC, Del. Ch., No. 4067-VCS (May 6, 2009), read opinion here. This Delaware Chancery Court opinion includes instructive recitations of Delaware law on a topic of relevance to all those…
North Carolina Business Litigation Report
Mitchell, Brewer, Richardson, Adams, Burge & Boughman, PLLC v. Brewer, 2009 NCBC 10 (N.C. Super. Ct. March 26, 2009)(Jolly)
When a member leaves an LLC, whether his or her departure is a withdrawal or a dissolution can make a significant difference. In this case, the characterization of the nature…
North Carolina Business Litigation Report
Law Firm Breakups: Whether It’s A Withdrawal Or A Dissolution Can Make A Big Difference
Whether the departure of three partners from a law firm LLC was a withdrawal or a dissolution of the LLC was the issue in Mitchell, Brewer, Richardson, Adams, Burge &…
New York Business Divorce
Application for Judicial Dissolution of LLC Must Be Made by Complaint or Petition, Mere Motion Will Not Suffice
The LLC Law authorizes a court to decree dissolution of a limited liability company "on application by or for a member." Must the application be made by way of a…
New York Business Divorce
Delaware Court of Chancery Grants Deadlock Dissolution Petition for LLC
This week's New York Business Divorce highlights an important new decision by the Delaware Court of Chancery granting a petition for dissolution of a deadlocked and financially crippled limited liability…
New York Business Divorce
Poorly Drafted Disability Clause in Operating Agreement Provides Novel Defense to LLC Dissolution Proceeding
If you think you've seen it all when it comes to corporate dissolution contests, think again as you read this week's New York Business Divorce which looks at a case…