Business Divorce Cases of 2019
March 09, 2020
Last year’s most noteworthy business divorce cases are marked by a diversity of subject matter, spanning a gamut of disputes among co-owners of limited liability companies, limited liability partnerships, and business and professional corporations. They also feature geographic diversity, with an unusual number of important decisions rendered by upstate judges.
Among the cases highlighted in this year’s review are trial court rulings: applying partnership law to law firm dissolution cases brought by lawyers with a “partner” title whose status as equity partners was disputed; finding that a female minority shareholder of a professional corporation accounting firm was oppressed by her fellow shareholders who failed to take appropriate action against offensive workplace behavior; addressing an allegedly oppressed minority shareholder’s “reasonable expectations” concerning the allocation of proceeds from the sale of a family-owned company; and resolving several disputes among LLC members involving dissolution, “quasi-dissolution” of a foreign LLC, and manager removal.
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