Daily Archives: Wednesday, February 6, 2019

Posted: February 6, 2019

Partnership Not Entitled to Recover Fees from Derivative Action Plaintiff When Security for Fees Not Posted

On January 31, 2019, the First Department issued a decision in NWM Capital, LLC v. Scharfman, 2019 NY Slip Op. 00674, holding that where a derivative action plaintiff had not posted security pursuant to Partnership Law ยง 121-1003, the plaintiff could not subsequently be required to pay the partnership’s attorneys’ fees, explaining: The court properly... Read more »