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Bad Things Can Happen When You Steal A Business From A Minority Co-Owner - Shareholders

Occasionally, we come across court cases in which the majority owners so egregiously mistreated their minority co-owners that it's difficult. ....

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Groundbreaking Appellate Ruling Boosts LLC Cash-Out Mergers | Farrell Fritz, P.C.

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For law bloggers, if there’s one thing more satisfying than writing about an important new court decision, it’s writing about an important new court decision that you won for your client.
Last week, the Brooklyn-based Appellate Division, Second Department, unanimously ruled in favor of my clients, construing for the first time at the appellate level two sections of New York’s LLC Law with profound effect on the ability of controlling members of LLCs to oust minority members by means of a cash-out merger.
First, reversing in part the lower court’s order, the appellate panel held that under ....

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New York's Highest Court Finds That Federal Bankruptcy Law Does Not Preempt State Law Tortious Interference Claims in Important Case | Kramer Levin Naftalis & Frankel LLP

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On Nov. 24, 2020, the State of New York Court of Appeals ruled in favor of Kramer Levin client Sutton 58 Associates LLC (Sutton), an affiliate of Gamma Real Estate, in its $100 million lawsuit brought against real estate investor Philip Pilevsky, his sons and related entities.
The 23-page majority opinion held that federal bankruptcy law did not preempt Sutton’s state law claims for tortious interference with contract. This landmark decision from New York’s highest court reversed a decision of the Appellate Division, First Department, which had imperiled the enforceability of “bankruptcy remote special purpose entity” loan structures and “bad boy” springing loan guarantees. The decision thus preserves these two common real estate financing tools that are crucial to many Kramer Levin clients. ....

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