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Is Loss Sharing an "Indispensable Essential" of Partnership? | Farrell Fritz, P.C.

What makes a partnership a partnership? What makes a partner a partner? To be clear, I’m referring to partners in a general partnership. ....

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Winter Case Notes: Dissolution of Not-For-Profit Corporation and Other Decisions of Interest | Farrell Fritz, P.C.

Siegel, the petitioner Barbara Siegel and her sister Karen Eisner serve as sole directors and officers of
The Manfred & Anne Lehmann Foundation since the deaths of their parents who established the Foundation as an NFP in 1977 to create, among other educational and philanthropic purposes, a repository for the Foundation’s Judaica collection accessible to students, scholars and others.
Siegel
N-F-P Law § 1102(a)(2)(B), (C), and (E) alleging that she and her sister were deadlocked on filling the Board’s third seat vacant since their mother’s death, on the Foundation’s banking, and on Eisner’s alleged scrutiny of some credit card charges and supposed resistance in continuing donations to long-standing charitable organizations. The petition proposed dividing the Foundation’s assets ratably between successor foundations designated by each of the sisters. ....

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