Commercial Division Blog

Posted: August 19, 2015 / Categories Commercial, Remedies/Damages

LLC Membership is Chattel Subject to Replevin

On August 11, 2015, the First Department issued a decision in Herman v. 36 Gramercy Park Realty Associates, LLC, 2015 NY Slip Op. 06479, holding that an LLC membership was a chattel subject to a repliving action, explaining that "[t]he failure to include limited liability membership interests in the General Construction Law § 15 list of 'chattel' subject to replevin is not dispositive, given that the statutory list is by its terms not intended to be exclusive, and it predates by many years the 1994 enactment of the Limited Liability Company Law."