'Thunder on the Niagara' returns to North Tonawanda's Gratwick Park
The Niagara Frontier Boat Racing Association and Hydroplane Racing League of Canada are pleased to announce this year's
Source: wnypapers.com
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And Another Lender Blocking Provision Bites the Dust, Texas Bankruptcy Court Rules | Kramer Levin Naftalis & Frankel LLP
One feature commonly seen in commercial lending transactions is a waiver of the borrower’s authority to file for bankruptcy without the consent of the lender. While such “blocking”...
Source: jdsupra.com
Second Department Limits Plaintiff to Appraisal Remedy Under New York LLC Law After a Freeze-out Merger | Patterson Belknap Webb & Tyler LLP
In Farro v. Schochet, the Second Department recently held that §1002 of the NY LLC Law restricted a dissenting member’s remedy to an appraisal for the fair value of his interest in the business after a freeze-out merger.[1] Thus, the Court reduced the legal remedies for a minority LLC member that lacked protections in the operating agreement against the merger. Background on Freeze-out Mergers and Appraisal Remedy A freeze-out merger typically involves controlling member(s) forcing minority member(s) out of a business by (1) creating a new business where the minority member(s) do not ha...
Source: jdsupra.com