Business Owner Rights
Forced Expulsion of a New Jersey Limited Liability Company Member
Published Date: July 19, 2022
What happens when the relationship between members of an LLC becomes acrimonious perhaps even the subject of litigation? Can a forced expulsion of a LLC member happen because of his or her actions? There are not easy answers to these questions. The expulsion provisions in New Jersey’s Revised Uniform Limited Liability Company Act (“LLC Act”) statute are relatively new. However, [...] Read More
CLEAN Exit: Negotiating the Partnership or Shareholder Buyout
Published Date: April 5, 2022
Members, shareholders or partners departing from an established business must have a clean exit. Whether leaving on your own or being bought out, clearly define obligations on both sides. Here are some of the considerations to keep in mind when negotiating and documenting a CLEAN exit. C Clearly defined financial obligations on both sides and compensation to the departing partner [...] Read More
ICDR Issues Final Award In Shareholder Oppression Case
Published Date: January 31, 2022
Shareholder oppression takes many forms. Also, oppression can be difficult to address especially when co-shareholders are foreign entities who are not easily sued in the American courts. Recently, I led a team who secured a substantial award from the American Arbitration Association affiliate, the International Centre for Dispute Resolution ("ICDR"). Consequently, this award was a full vindication of shareholder rights [...] Read More
New Jersey Limited Liability Company Law & Forced Member Buyouts
Published Date: January 3, 2022
In my prior blogs, I have addressed the importance of having an operating agreement for any business owner. Most importantly, for those operating as a limited liability company. I have also covered legislative changes in New Jersey with the adoption of the Revised Uniform Limited Liability Company Act. All Saints Case An Appellate Division decision in New Jersey, All Saints [...] Read More
How the New Jersey LLC Law Impacts Your Business
Published Date: November 22, 2021
Members of any New Jersey company that operates as a LLC need to fully understand the 2012 Revised LLC Act. This New Jersey LLC law applies to all LLCs, whenever formed. The Act improved and filled gaps in prior New Jersey law. Likewise, the Revised LLC Act updated existing law that had become outdated. At its passage, the Act was [...] Read More
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