A trio of significant rulings by the Appellate Division dominated the business divorce caselaw arena in 2023. The Second Department weighed in with a pair of rulings limiting the lower courts’ authority to order a closed auction sale of a dissolved corporation’s assets and, in an apparent ruling of first impression, recognized an estate’s standing to seek judicial dissolution of a limited liability company under Section 608 of the LLC Law.

The First Department also contributed a novel ruling giving life to an oral voting agreement among members of an LLC.