MEDIA

July 26, 2010

Schlam Stone Granted Appeal In Cases Shaping LLC Fiduciary Duties

Sometimes the law of New York treats an LLC like a corporation, sometimes like a partnership, and sometimes like a unique entity. In related cases Roni LLC v. Arfa and Arfa v. Zamir the lower court rulings, subsequently appealed in the Appelate Division First Department explored various aspects of a real estate venture gone arwy, one in which the structure of the central entity, a New York LLC, has fostered ambiguities that present the courts with daunting challenges. Rachel L. Arfa, a central party in the two cases, has selected Schlam Stone & Dolan partner David Katz and of-counsel attorney Michael Marcus as appellate counsel. They have been able to appeal a lower court defeat, achieve some initial appelate gains, and subsequently get the New York Court of Appeals to hear the matters.

Coverage of the case can be found here: