Closely-held business owners often hope to avoid the costs and delays of litigation by including arbitration provisions in their partnership, shareholder, and operating agreements..
In February, the Office of the State Comptroller approved 1,465 contracts for state agencies and public authorities valued at $1.4 billion and approved more than 2.9 million payments worth nearly $10 billion.
In expensive lawsuits involving fraud claims, the temptation of a defendant to play hide and seek with its assets can be high. To prevent this result, CPLR § 6201 provides a mechanism.