Ownership Standoffs: Can Courts Invoke “Equity” To Accommodate a Buyout? Or Should Legislatures Provide a Solution?

By Jennifer M. Osgood, Esq. on May 06, 2022. Traditionally, courts tasked with resolving irreconcilable differences between owners of a Limited Liability Company (“LLC”) had one primary tool available: judicial dissolution. Changes to the LLC laws in several states, however, have opened an alternative: the compulsory buyout. For drafters of LLC operating agreements and members of LLCs, it is important …

Joint Venture Crimes and Punishment: One Court’s View

By Daniel W. Glasser on March 24, 2022. For litigators involved in limited liability company disputes, some legal issues are perennial. Chief among them is the question of whether members and managers owe fiduciary duties either to each other or to the company. But there are secondary issues that frequently bloom around this primary question. For example, if a party owed …