That Corporate Landlord was in Real Estate Business did not Mean That BCL 909 did not Govern Sale of Substantially All its Property
Business Divorce / Commercial Case Notes / Corporations

That Corporate Landlord was in Real Estate Business did not Mean That BCL 909 did not Govern Sale of Substantially All its Property

On December 10, 2024, the First Department issued a decision in Haruvi v. Hungerford, 2024 NY Slip Op. 06154, holding that fact that corporate landlord was in real estate business did not mean that BCL 909 did not govern the sale of substantially all of its real estate assets . . . Continue reading That Corporate Landlord was in Real Estate Business did not Mean That BCL 909 did not Govern Sale of Substantially All its Property

Court Stays Dissolution Proceeding in Favor of Earlier-Filed Action Even Though it Did Not Seek Dissolution
Business Divorce / Commercial Case Notes / Motion to Dismiss

Court Stays Dissolution Proceeding in Favor of Earlier-Filed Action Even Though it Did Not Seek Dissolution

On September 30, 2024, Justice Cohen of the New York County Commercial Division issued a decision in Ramirez v. Issa, 2024 NY Slip Op. 33488(U), staying a proceeding to dissolve a corporation in favor of an earlier filed action even though the earlier action did not seek dissolution . . . Continue reading Court Stays Dissolution Proceeding in Favor of Earlier-Filed Action Even Though it Did Not Seek Dissolution

Court Refuses to Dissolve LLC When Basis for Petition is the Manner in Which the LLC is Operated, not its Viability
Business Divorce / Commercial Case Notes

Court Refuses to Dissolve LLC When Basis for Petition is the Manner in Which the LLC is Operated, not its Viability

On April 28, 2022, Justice Livote of the Queens County Commercial Division issued a decision in Matter of Mattone v. Mattone, 2022 NY Slip Op. 31253(U), refusing to dissolve an LLC when the basis for the petition was the manner in which the LLC was operated, not its viability . . . Continue reading Court Refuses to Dissolve LLC When Basis for Petition is the Manner in Which the LLC is Operated, not its Viability

Court Denies Request to Dissolve LLC Because It Remained Able to Conduct the Business for Which it was Formed
Business Divorce / Commercial Case Notes

Court Denies Request to Dissolve LLC Because It Remained Able to Conduct the Business for Which it was Formed

On April 25, 2022, Justice Borrok of the New York County Commercial Division issued a decision in Haaris v. Hameedi, 2022 NY Slip Op. 31339(U), denying a request to dissolve an LLOC because the LLC remained able to conduct the business for which it was formed . . . Continue reading Court Denies Request to Dissolve LLC Because It Remained Able to Conduct the Business for Which it was Formed

Where Members Fail to Sign LLC Operating Agreement, LLC is Governed by Default Rules of LLC Law
Business Divorce / Commercial Case Notes

Where Members Fail to Sign LLC Operating Agreement, LLC is Governed by Default Rules of LLC Law

On April 1, 2022, Justice Boddie of the Kings County Commercial Division issued a decision in Family Group 188, LLC v. Foukas, 2022 NY Slip Op. 30764(U), holding that where members of an LLC fail to sign an LLC operating agreement, the LLC is governed by the default rules of the LLC Law . . . Continue reading Where Members Fail to Sign LLC Operating Agreement, LLC is Governed by Default Rules of LLC Law