N.Y. High Court: No LLP Shield in Disputes Among Law Firm Partners
The New York Court of Appeals ruled Thursday that partners in a law firm operating as a limited liability partnership are not shielded from personal liability in disputes with each other. The court's 5-2 decision in Ederer v. Gursky, 133, stems from a 2003 lawsuit filed by intellectual property lawyer Louis Ederer against his former partners at the now-defunct Gursky & Ederer. Now a partner in the New York office of Arnold & Porter, Ederer sought an accounting, claiming he was owed money pursuant to the agreement by which he withdrew from the firm.
Read more at www.law.com.comments powered by Disqus