On March 27, 2025, Empire State Development, New York State’s chief economic development agency, announced the launch of the Long Island Forward Housing Program (LIFHP), a $10 million initiative designed to promote and accelerate the development of affordable multifamily housing across Nassau and Suffolk Counties. Instead of providing direct grants, Empire State Development will
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Farrell Fritz, P.C. Blogs
Latest from Farrell Fritz, P.C.
Demand Futility, Dissolution, and Transfer Restrictions: Spring Blooms Fresh Developments in LLC Litigation
Spring in New York has ushered in a fresh crop of noteworthy decisions on intra-LLC disputes. Headliners include a boost to members’ rights to compel an accounting courtesy of the First Department, a procedural refresher on LLC dissolution and the applicable standard, and a winding dispute over membership bequests in the Surrogate’s Court.…
Persistence, Procedure, and Default: Lessons from ACM MCC VI LLC v. Able Liquidation Three & Thomas Rossi
On April 29, 2025, the Justice Robert R. Reed of the Commercial Division of the Supreme Court of New York County issued a significant ruling in ACM MCC VI LLC v. Able Liquidation Three, Thomas Rossi, et al., granting a default judgment on liability against defendant Thomas Rossi in a commercial dispute after two…
LLC Minority Member Gets Caught in His Own “Wolverine Trap”
By Peter Mahler
This week’s New York Business Divorce discusses a case involving an LLC member dispute in which the plaintiff was hoisted on his own petard or, to paraphrase an email that came to light in discovery, stepped into his own “wolverine trap.”…
Behind the Bench: An Evening with the Westchester Commercial Division Justices
On April 23, 2025, Matt Donovan and Viktoriya Liberchuk moderated a panel featuring Westchester Commercial Division Justices Linda S. Jamieson and Gretchen Walsh. The “town-hall” event covered a wide range of topics, including motion practice, artificial intelligence in legal proceedings, alternative dispute resolution, and trial procedures, to name just a few.
Below are some of…
DExit Strategy: Delaware’s Books and Records Reset
Stockholders of Delaware corporations for many years have had the right to examine stock ledgers, stockholder lists and “books and records” for a “proper purpose” under Section 220 of the Delaware General Corporation Law. Until recently, however, the concepts of “books and records” and “proper purpose” were not specifically defined in the DGCL.
Over time,…
Bless This Mess: New York Court Shuts Down Attempted Early Ouster of Restauranteur From Managing His Own Restaurant
By Becky Baek
This week’s New York Business Divorce features a failed attempt at removing restaurant manager on a preliminary injunction motion.…
Retail Reckoning for Suburban Strip Malls
Suburban strip malls have been a staple of Long Island’s retail identity – convenient, accessible, and often anchored by big-name national chains. But, as retail trends evolve and those anchor tenants face uncertainty and for some, extinction, these once thriving properties are faced with the looming question of what comes next. For example, Rite Aid…
Business Appraiser Liability? That’s a New One.
Business appraiser liability? A minority owner of an LLC recently took a run at it, alleging that a valuation firm conspired with the majority owners to undervalue his interest for a compelled buyout under the operating agreement. Learn how the court handled this novel issue in this week’s New York Business Divorce.…
Lengthy Opinion Delivered Regarding In Terrorem Clause
It is a rare day that the Court of Appeals, New York’s highest Court, deals with trust and estate matters, let alone something as granular as the validity of an in terrorem clause. But speaketh they did, on April 17, 2025, in a lengthy opinion with a 13-page dissent to boot (Carlson v. Colangelo, 2025…