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Home / Expert Opinion / Civil Litigation / Civil Litigation: Oppressive conduct insufficient to support LLC dissolution

Civil Litigation: Oppressive conduct insufficient to support LLC dissolution

LLCs, which were created by the New York Limited Liability Company Law (LLCL), are hybrid business entities that combine the tax aspects of partnerships with the limited liability of corporations. The two basic principles underlying the LLCL are (1) LLC owners (members) have flexibility in structuring the LLC through its operating agreement, and (2) the ...