Daily Archives: Saturday, April 24, 2021

Posted: April 24, 2021

Decisions on How to Liquidate Made by LLC’s Managing Member Reviewed Under Deferential Business Judgment Rule

On April 6, 2021, the First Department issued a decision in Matter of FGLS Equity LLC, 2021 NY Slip Op. 02099, holding that decisions on how to liquidate an LLC made by the LLC’s managing member are reviewed under the deferential business judgment rule, explaining: The decisions of FGLS’s managing member and liquidator, Steven Turchin,... Read more »