Posted on: April 15, 2014
The housing cooperative, or co-op, is a form of entity with which residents of New York City (and many other municipalities) are well acquainted.
At the New York Business Divorce blog, Peter Mahler discusses recent New York caselaw regarding an interesting set of conflicting interests inherent in these types of companies:
Category:
Tag: Contracts, Corporations, Landlord-Tenant Law, Real Estate / Real Property
Posted on: April 11, 2014
Andre Bouchard has been confirmed by the Delaware Senate to serve as the 21st Chancellor of the Delaware Court of Chancery. Bouchard will replace Leo Strine, Jr., who was appointed Chief Justice of the Delaware Supreme Court earlier this year.
Category:
Tag: Alternative Business Entities, Civil Litigation / Civil Procedure, Commercial Litigation, Commercial Transactions, Comparative Law, Contracts, Corporations, Courts, Equity / Chancery, Fiduciary Duties, Legal History, Legal Industry, Limited Liability Companies, Mergers and Acquisitions, Partnerships, Structured Finance
Posted on: April 11, 2014
Most states' limited liability company statutes contain provisions authorizing indemnification and advancement of legal expenses incurred by managers, officers, and other controlling persons resulting from lawsuits against them in their capacity as such. Generally, these provisions allow the LLC to reimburse (indemnify) these "covered persons" for any legal expenses, except where the court finds bad faith, gross negligence, or some other "bad act," and companies may go a step further and pay such expenses during the pending litigation (advancement), provided that if the covered person is found to have committed a "bad act," the advanced funds must be repaid.
Category:
Tag: Alternative Business Entities, Civil Litigation / Civil Procedure, Comparative Law, Corporations, Equity / Chancery, Fiduciary Duties, Limited Liability Companies
Posted on: April 11, 2014
Editor's note: early in the life of this blog we attempted to provide a famous quotation from legal history, sometimes with extensive commentary and historical perspective (see here) in a piece entitled "Legal Quote of the Week." It's been somewhat more than a week since the last such piece, but we will be making efforts in the next few months to continue this feature on a regular (if not weekly) basis.
Category:
Tag: Courts, Legal History, Legal Industry
Posted on: April 10, 2014
In an article in the April 4 – 17 issue of the New Hampshire Business Review, attorney John Cunningham offers suggestions on how to reduce liability for the 8.5 percent Business Profits Tax under the New Hampshire Revised Limited Liability Company Act.
Category:
Tag: Administrative Law, Alternative Business Entities, Corporations, Taxation