Can I withdraw from a New York LLC? LLC terminology uses the word “withdraw”, what it means is that someone gives up on his LLC membership status and after withdrawing is no longer a member. Clients are often confused when they see this provision in their operating agreement: A Member may not withdraw from the … Read More
Many clients come to me with complaints about their business partner and his or her misconduct in managing the co-owned LLC. Mismanagement that resulted in unnecessary debt for the LLC, liabilities, waste of the LLC’s assets and so forth. They invariably ask if they can sue the co-member for such misconduct and get damages. After … Read More
A business break-up can be as stressful and emotionally draining as the breakup of a marriage. And there is always a child involved….the business. So when your business partnership has gone bad, you really want to find out where you are standing and what rights you may have vis a vis the other business partners and the business.
I wrote before about getting access to the books and records of an LLC. The same scenario can happen if you are a shareholder in a corporation. The corporation cannot deny you access to its books and records. Access to Corporation’s Books and Records You ask the Corporation for financial information and other documents and … Read More
If you are a member of an LLC and are being denied access to company records, we can help you get access by bringing a books and records petition in court under Section 1102 of the New York Limited Liability Company Law. The scenario is often like this: You’ve been happily doing business with your … Read More
You are fuming right now about what your business partner is doing to you and/or the business and you are wondering if you should sue your business partner. Before pulling the trigger, understand what lies ahead: Is there a way to negotiate yourself out of this? Going to court should always be the last resort. … Read More
