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

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

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

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