FOR IMMEDIATE RELEASE
October 19, 2022
Contact:
Howard M. Rubin, 212-695-8100, ext. 334, [email protected]
Another Big Business Corporation Law Win by Goetz Fitzpatrick
Manhattan — Attorney Howard Rubin from Goetz Fitzpatrick, a law firm in Manhattan, had a major victory in Business Corporation Law.
This case was a dispute involving several commercial properties in Brooklyn that were inherited by the four (4) children of the two (2) brothers that purchased the properties in the 1950s. Each of the 4 children owned 25% of the corporations that owned the properties and two (2) of which managed them and were employed by the corporations. The properties were purportedly valued at $40M and one (1) of the non-manager shareholders sued to force the sale of the properties because of the lack of distributions to her. The other non-manager shareholder supported the decision of the managing shareholders to reinvest in the properties and not sell and felt the compensation received by the managing shareholders was fair and justified.
After a 2-week non-jury trial conducted before the Honorable Lawrence Knipel, the court ruled that the petitioner’s claims against the victorious managing shareholders were without merit and that there was no basis in law or fact to force the sale of the properties. The Appellate Division Second Department unanimously affirmed this Decision. The managing shareholders were represented by Howard M. Rubin, a Senior Partner at Goetz Fitzpatrick LLP.
Goetz Fitzpatrick LLP has been offering clients insightful solutions throughout the New York Metropolitan area since 1967. The firm provides its clients with expertise in the areas of Construction and Real Estate, Trusts & Estates Administration & Litigation, Commercial Litigation, Corporate, Bankruptcy, and Labor & Employment. The firm’s office is located at One Penn Plaza, Suite 3100, New York, NY 10119, Telephone 212 695 8100, [email protected], www.goetzfitz.com. You can learn more about Goetz Fitzpatrick on: LinkedIn | X (Twitter) | Soundcloud | YouTube | Facebook | Instagram
