Legal Opinion
LNYC Loft, LLC v. Hudson Opportunity Fund I, LLC
Appellate Division of the Supreme Court of the State of New York
Decided August 15, 2017No. 650969/11 4096PublishedCited by 10 opinions
1Opinion of the Court
OPINION OF THE COURT
Manzanet-Daniels, J.
In Tzolis v Wolff (10 NY3d 100 [2008]), the Court of Appeals recognized the right of a member to sue derivatively on behalf of an LLC, leaving it to the courts to further define “[w]hat limitations on the right of LLC members to sue derivatively may exist” (id. at 109). This appeal concerns the propriety of the appointment of an outside attorney to serve as the sole member of a special litigation committee (SLC) to determine the merits of the claims asserted in this LLC derivative suit. We recognize that the appointment of an SLC may serve an important…
2Cases cited4 opinions
- Tzolis v. WolffNew York Court of Appeals · 2008
- Segal v. CooperAppellate Division of the Supreme Court of the State of New York · 2008
- Gottlieb v. Northriver Trading Co.Appellate Division of the Supreme Court of the State of New York · 2009
- Najjar Group v. West 56th HotelAppellate Division of the Supreme Court of the State of New York · 2013
3Cited by10 opinions
- Board of Mgrs. of the 28 Cliff St. Condominium v. MaguireAppellate Division of the Supreme Court of the State of New York · 2020
- Board of Mgrs. of the 28 Cliff St. Condominium v. MaguireAppellate Division of the Supreme Court of the State of New York · 2020
- TKS Realty, LLC v. 391 Broadway LLCAppellate Division of the Supreme Court of the State of New York · 2021
- TKS Realty, LLC v. 391 Broadway LLCAppellate Division of the Supreme Court of the State of New York · 2021
- Active Design Polymer, LLC v. WalshDistrict Court, N.D. New York · 2022
5 more not listed; retrieve them via the Exa API.