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New York Supreme Court, Commercial Division, at 60 Centre Street New York courts are frequently called upon to resolve disputes over whether a limited liability corporation (LLC) should be dissolved.
Meinhard v. Salmon, 164 N.E. 545 (N.Y. 1928), is a widely cited case in which the New York Court of Appeals held that partners in a business owe fiduciary duties to one another where a business opportunity arises during the course of the partnership.
Judicial dissolution, informally called the corporate death penalty, is a legal procedure in which a corporation is forced to dissolve or cease to exist. Dissolution is the revocation of a corporation's charter for significant harm to society. [ 2 ]
The New York State Constitution, Art.X, sec. 5, provides that public benefit corporations may only be created by special act of the legislature. In City of Rye v. MTA, 24 N.Y.2d 627 (1969), the court of appeals explained that "The debates of the 1938 Convention indicate that the proliferation of public authorities after 1927 was the reason for the enactment of section 5 of article X....
Partnership. C corporation. S corporation. Formation. Business license (and possible a “doing business as” (DBA), depending on your state), partnership agreement not required but recommended
Albany City Hall, the seat of local government in New York's capital city. In New York, each city is a highly autonomous incorporated area [3] that, with the exceptions of New York City [8] and Geneva, [15] is contained within one county. Cities in New York are classified by the U.S. Census Bureau as incorporated places. [16]
Dissolution of a partnership is the first of two stages in the termination of a partnership. [1] "Winding up" is the second stage. [1] [2] Dissolution may also refer to the termination of a contract or other legal relationship; for example, a divorce is the dissolution of a marriage only if the husband or wife does not agree. If the husband and ...
Stroock & Stroock & Lavan LLP (known as Stroock) was an American law firm based in New York City, with offices also in Los Angeles, Miami, and Washington, D.C.. Stroock provided transactional and litigation guidance to multinational corporations, financial institutions, investment banks, and private equity firms in the U.S. and abroad.