Case Law Summaries

New York – LLC – Special Litigation Committees

New YorkLNYC Loft, LLC v. Hudson Opportunity Fund I, LLC, 2017 NY Slip Op 6147, decided 8/15/17. The New York Supreme Court, Appellate Division ruled that a New York LLC lacks the authority to appoint an outside attorney as a special litigation committee where its operating agreement does not grant it such authority and does not authorize the managing members to delegate their authority to make major decisions.

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