One need not peruse the pages of this blog for long to learn that its authors strongly advise against entering into an owners’ agreement that calls on the members to “annually” (or.
The dissolution of a company and the winddown and liquidation that usually follow often impacts a broad range of stakeholders beyond just the owners of the company, including creditors.
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.