LIABILITY OF FORMER MEMBERS TO BUY-OUT THIRD MEMBER’S INTEREST

March 24, 2020

Under the link below is a scary recent PLLC ruling by a NY court, as discussed by Peter Mahler of the FarrellFritz law firm in his latest post.  Peter summarizes his post as follows:

This week’s New York Business Divorce examines a noteworthy decision by Justice Richard Platkin involving the break-up of a law firm organized as a professional services limited liability company, in which the court addressed the potential liability of two members to buy out a third member’s interest after they withdrew from the firm.

Here is the link:

https://www.nybusinessdivorce.com/2020/03/articles/professionalservicellcs/forced-to-buy-out-law-partners-interest-in-defunct-firm-years-after-withdrawing-it-can-happen/

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