Minority Shareholders of NJ Bank Barred From Suing For Damages, Says Bergen County Jurist
In an unpublished decision issued on June 20, 2014, a Bergen County judge dismissed the claims of three individual minority shareholders of Fort Lee Bank who alleged damages resulting from a failed bank merger. Kostakapoulous vs. Alma Bank, Superior Court of New Jersey, Law Division, Bergen County, Docket No.: BER-L-1952-14. The court conclud...
You’re Only as Good as Your Word, Says New Jersey Appeals Court
As children, we're taught not to make promises unless we intend to keep them. The New Jersey Appellate Division recently reaffirmed this important lesson in an unpublished decision in which the court scolded a consumer who duped a car dealership by entering into a contract he knew he couldn’t honor. In upholding the trial court’s decision ren...
Valuing Closely Held Businesses Under New Jersey Law
What is my business worth? You say $100,000, she says $1,000,000. Whether arguing with an irate spouse in the context of a divorce case or a business partner in a partnership dispute, the answer is often difficult and expensive to determine.
As the New Jersey Supreme Court observed in Balsamides v. Protameen Chemicals, Inc., 160 N.J. 352, 368 ...
Stop The Drum Beat – Maybe – Says New Jersey Appellate Division
“I don’t want to work. I want to bang on the drum all day.” "Bang The Drum All Day", Todd Rundgren, 1983. Not necessarily so, said the New Jersey Appellate Division in a May 30, 2014 published decision that reversed the trial court’s dismissal of a homeowner’s complaint that her neighbor’s son’s incessant drum playing constitutes ...