Novel Ruling on Advancement in LLC Dissolution Case “Levels the Playing Field”
Section 420 of New York’s LLC Law authorizes an LLC, “subject to the standards and restrictions, if any, set forth in its operating agreement,” to indemnify and hold harmless, and advance expenses to,...
View ArticleCourt Rebuffs Dissolution Withdrawal in Denying Enforcement of Non-Compete
In a post last year entitled “Squabbling Partners with Piecemeal Adjudications Need Not Apply,” I wrote about Nassau County Commercial Division Justice Stephen A. Bucaria‘s creative adaptation of the...
View ArticleCourt-Ordered LLC Buy-Outs: What’s the Valuation Date?
If you’ve studied New York dissolution law, you know that, unlike proceedings involving close corporations, there’s no statutory authority for a court-ordered buy-out when a member of a limited...
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