The New York Court of Appeals ruled Thursday that partners in a law firm operating as a limited liability partnership aren't shielded from personal liability in disputes with each other. But in a dissent in which Chief Judge Judith S. Kaye concurred, Judge Robert S. Smith said the majority's decision gave preferential treatment to former partners over both current partners and other third-party creditors, noting that the decision might produce especially unfair results for partners with small equity stakes.
N.Y. High Court: No LLP Shield in Disputes Among Law Firm Partners
New York Law Journal
December 21, 2007
This article requires premium access
This article requires premium access to Law.com. Please sign in or subscribe to read the full text.