Business Divorce Cases of 2018
February 26, 2019
In recent years, most of the new and noteworthy case law developments in the business divorce field predictably have involved limited liability companies which, as business entities go, are newcomers relative to business corporations and partnerships. Last year bucked the trend.
Among the cases featured in this annual review are important appellate and trial court rulings addressing the valuation of the interest of a partner found to have caused a wrongful dissolution of a general partnership; grounds for common-law and statutory dissolution in cases brought by minority shareholders of close corporations alleging oppression; standing to seek director deadlock dissolution; and standing to bring derivative claims on behalf of a limited partnership. LLCs were not completely left out of the running, making their mark in a significant decision granting a minority member’s dissolution petition.
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