Ownership disputes are personal as well as financial. Most end in a buyout or a separation of the business; the litigation is about getting a fair price and terms. We represent owners on either side and focus early on what each side can realistically walk away with.
Claims and remedies
- Breach of fiduciary duty, self-dealing and diversion of business opportunities.
- Access to books and records (BCL § 624 for corporations; LLC Law § 1102 for LLCs).
- Shareholder derivative actions on behalf of the company (BCL § 626).
- Judicial dissolution of close corporations on oppression grounds (BCL § 1104-a) or of LLCs where it is no longer reasonably practicable to carry on the business (LLC Law § 702).
- Enforcement of operating agreements, shareholder agreements and buy-sell provisions.
Questions clients ask
Our LLC has no operating agreement. What rules apply?
The default rules of the New York Limited Liability Company Law fill the gaps. Those defaults may not match what the members assumed, which is often what the dispute is really about.
This page is general information about New York law, current as of its last review. It is not legal advice about your situation, and laws and court practices change. Speak with a lawyer about the facts of your case.