The improved economic climate last year saw no let up in the volume of business divorce litigation in New York courts. Indeed, there’s an argument to be made that a bigger “pie” resulting from higher profits and rosier business prospects foster more, not less, infighting among co-owners of closely held business entities contributing to a higher incidence of legal disputes.
The most striking aspect of last year’s business divorce decisions is the number of important appellate rulings concerning various forms of business entities. The cases featured in this annual review include decisions by the Court of Appeals and all four departments of the Appellate Division concerning dissolution and valuation contests involving partnerships, corporations, and limited liability companies.
