News & Analysis as of

Partnerships Breach of Contract Fiduciary Duty

Farrell Fritz, P.C.

Commercial Division Reiterates That It’s Not a Rubber Stamp for CPLR 3215 Default Motions: Movant Must Set Forth Prima Facie...

Farrell Fritz, P.C. on

Commercial Division litigators are keenly aware of CPLR 3215’s proof requirements. We can recite in our sleep the need to submit (1) proof of service, (2) proof of default, (3) the amount due, and (4) facts constituting the...more

Morris James LLP

Chancery Finds General Partner Breached Partnership Agreement in Exercising Call Right, and Awards Limited Partners Nearly $700...

Morris James LLP on

Bandera Master Fund LP v. Boardwalk Pipeline Partners, LP, C.A. No. 2018-0372-JTL (Del. Ch. Nov. 12, 2021) - If a partnership agreement requires an opinion of counsel as a condition precedent, such opinion must be rendered...more

Farrell Fritz, P.C.

Post-Quarantine Buyout Of A Partner

Farrell Fritz, P.C. on

Uptick in Business Divorces? I’ve read a number of articles over the last few weeks in which marriage counselors have been predicting a wave of divorce filings once the COVID-19 quarantine has been lifted...more

Patterson Belknap Webb & Tyler LLP

First Department Holds That “Sole and Absolute Discretion” Clause Does Not Preclude Breach of Fiduciary Duty Claim

In Shatz v. Chertok, the First Department affirmed in part and reversed in part a decision by Justice Jennifer G. Schechter of the Commercial Division. The key issue on appeal was whether a New York limited liability...more

Gray Reed

Attempt to Prove a Texas Partnership Fails

Gray Reed on

Like breaking into CIA headquarters, sneaking into the Vatican, or hanging off the side of the Burj Khalifa, sometimes getting the deal done seems impossible. The key to any successful mission is planning for disastrous...more

Winstead PC

Court Affirmed Finding That An Oral Partnership Existed And That A Partner Breached Fiduciary Duties

Winstead PC on

In Harun v. Rashid, two individuals started a restaurant business; one operated the business and the other financed it. No. 05-16-00584-CV, 2018 Tex. App. LEXIS 231 (Tex. App.—Dallas January 9, 2018, no pet. history)....more

Pullman & Comley, LLC

Appellate Court Notes

Pullman & Comley, LLC on

Supreme Court Advance Release Opinions: SC19493 - Standard Oil of Connecticut, Inc. v. Administrator, Unemployment Compensation Act - SC19493 Dissent - Standard Oil of Connecticut, Inc. v. Administrator,...more

Morris James LLP

Court Of Chancery Limits Fiduciary Claims Based On A Contract

Morris James LLP on

A recurring problem in Delaware jurisprudence is whether breach of contract and fiduciary duty claims may proceed simultaneously....more

Snell & Wilmer

The Expansive Breadth and Scope of Arizona’s New Revised Uniform Arbitration Act

Snell & Wilmer on

Recently, the Arizona Court of Appeals determined that under the 2010 Arizona Revised Uniform Arbitration Act, A.R.S. §12-3001, et seq. (the AZ-RUAA), a contractual agreement to arbitrate extends to: (i) arbitration of claims...more

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