Insights

Bankruptcy, Board Conduct, and Fiduciary Duty: Key Takeaways from Ragab v. SHR Capital Partners LLC

In a recent decision from the Manhattan County Commercial Division, Justice Margaret A. Chan addressed a confluence of corporate-governance, fiduciary-duty, and bankruptcy-stay issues in Ragab v. SHR Capital Partners LLC. The ruling offers instructive guidance on two legal themes; the limits of the automatic bankruptcy stay in litigation, and the viability of fiduciary-duty claims against individual directors.

Richard Stella

LLC Minority Member Gets Caught in His Own “Wolverine Trap”

Over the years I’ve become less enamored with arbitration as an alternative to litigating complex business cases in court, mostly because the traditional trade-off between abundant due process protections (court) versus expediency and cost savings (arbitration) has eroded as motion practice and generous discovery including depositions have become more common in arbitration.

Peter A. Mahler

From Vacancy to Vibrancy: Empire State Development’s Vision for Long Island Housing

On March 27, 2025, Empire State Development, New York State’s chief economic development agency, announced the launch of the Long Island Forward Housing Program (LIFHP), a $10 million initiative designed to promote and accelerate the development of affordable multifamily housing across Nassau and Suffolk Counties. Instead of providing direct grants, Empire State Development will fund professional services through selected technical assistance vendors. These services may include, among others, appraisal services, economic impact analysis for development scenarios, market studies and environmental site assessments.

Laura K. Fallick

Invalidating Legal Documents and Transactions in Article 81 Guardianship Proceedings

Much has been written about courts invalidating instruments or transactions after a person’s death. Courts invalidating instruments or transactions during a person’s lifetime is discussed less often. A mechanism for doing so is found in Article 81 of the Mental Hygiene Law (“MHL”), which governs proceedings to appoint a guardian for an alleged incapacitated person’s (“AIP”) personal needs or property management. This article examines how courts use MHL § 81.29(d) to protect incapacitated persons.

Bret Cahn