It’s not often that the rote listing of involved attorneys at the outset of a Business Court opinion gives much of a clue of what issues lie ahead. A curious exception is when the same party is listed as represented by counsel on both sides of the case. In Turner v. Hunt Hill Apartments, LLC
Special Shareholder Meetings: Where the minutes are kept, but the time (for notice) is wasted
Judge Robinson recently issued an order containing what may be the first interpretation of the “Special Meeting” provisions of the North Carolina Business Corporation Act (the “Act”), N.C. Gen. Stat. §§ 55-7-02 and -03, in In re Matter of Special Shareholders’ Meeting of Phytonix Corporation. The statute provides shareholders with a mechanism to demand
Derivative Claim Boots are Made for Walking, Business Court Says, but Only When an LLC Leaves Them on the Rack.
Before you judge a man, walk a mile in his shoes. After that who cares? He’s a mile away and you’ve got his shoes!
-Billy Connolly, Scottish comedian, shoe sage.
The N.C. Business Court might not be your first stop for tips on picking quality footwear, but in the spiritual homestead of Air Jordans, solid
Don’t Fence Me In Again
N.C. Business Court Refuses to Allow Member-Managers to Assert Contract Claims Belonging to their LLC.
In its second opinion in Bennett v. Bennett, 2019 NCBC 45 (N.C. Super. Ct. Aug. 6, 2019), the Business Court denied Plaintiff Bert Bennett’s motion to dismiss a breach of contract claim by an LLC, but granted his motion
Smoke ’em if You Got ’em.
N.C. Supreme Court Holds that Dilution of Shareholders’ Voting Power is an Injury Giving Standing to Sue, but Leaves Open Whether a Minority Shareholder Exercising Actual Control Owes Fiduciary Duties to other Shareholders.
In December 2018, the Supreme Court of North Carolina decided the appeal of Corwin v. British Am. Tobacco PLC in 4-3 decision