Pappas v. Tzolis
New York Court of Appeals
1Opinion of the Court
*231OPINION OF THE COURT
Pigott, J.
Plaintiffs Steve Pappas and Constantine Ifantopoulos along with defendant Steve Tzolis formed and managed a limited liability company (LLC), for the purpose of entering into a long-term lease on a building in Lower Manhattan. Pappas and Tzolis each contributed $50,000 and Ifantopoulos $25,000, in exchange for proportionate shares in the company. Pursuant to a January 2006 Operating Agreement, Tzolis agreed to post and maintain in effect a security deposit of $1,192,500, and was permitted to sublet the property. The Agreement further provided that any of the three…
2Cases cited6 opinions
- Danann Realty Corp. v. HarrisNew York Court of Appeals · 1959
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- Colavito v. New York Organ Donor Network, Inc.New York Court of Appeals · 2006
- Cox v. NAP Constr. Co., Inc.New York Court of Appeals · 2008
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- McBeth v. PorgesDistrict Court, S.D. New York · 2016
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