New York Corporate Legal Questions

When it comes to insurance agreements it is important to know that they are considered one sided and in certain circumstances unfair to the consumer, who is in disadvantageous position, as opposed to the insurance company. Whether a person can sue or invalidate a contract provision depends on whether the provision at issue as included in the insurance contract and whether it was clear, visible and conspicuous. If an insurance company does something the consumer finds unlawful, first it is necessary to review the insurance agreement. ... Read Answer

It depends upon whetehr the debt they are seeking was covered by the settlment agreement.  Consider hiring an experience contract litigator to review the settlement agreement and the debt to see if their collection efforts were justified and whether you have any recourse.  Happy to help.... Read Answer

It appears that are issues with the President acting without / exceeding authority, with not disclosing a conflict of interests, and not dealing at arms length in transactions - not clear how much of the 15-21% "wipe-offs" were RE commissions paid to the President or his real estate office.  Since the balance of proceeds was placed in Coop accounts may be tougher to prove embezzlement if the money withdrawn was paid to businesses and if supported by receipts, but at the very least seems to be the misappropriation of funds & business opportunity and violation of is fiduciary duties.  In order to determine if exceeded authority and to document to provide facts to warrant a claim of embezzlement, would need to review the COOP bylaws and job description and contract for the president and if possible the closing documents and payout records to his RE company for commissions.  Also, probably worth investigating the renovations and buyout transactions to ensure payments were based on actual transactions unless the board knows the units were actually sold.  If not, would need to investigate title transfers.   The police would not likely react and investigate unless providing them with the embezzlement documented.   Certainly continuing the civil lawsuit concurrently is advised, and perhaps amending claims to include embezzlement, fraud, breach of fiduciary duty, etc. based on what the document review reveals.We would be more than happy to work with you and the board, however, we are not the cheapest lawyers in Firm. We are the most competent and aggressive attorneys when it comes to litigation. Our toll-free number for a free consultation is 877-866-8665 // Ahsan Syed, Case Manager. ... Read Answer

You can call a lawyer.  If you want to save on fees, there are divorce mediation companies that will represent both sides in the process.  There are also clerks in the court for people without a lawyer to fill out the forms.  If there is any dispute over anything you need to each have your own lawyers.... Read Answer

You put your name in 2010.  Thus, you are the President.  Your misunderstanding about what happened is not binding on third parties with no knowledge of your understandings.  You need to call a shareholders meeting and seek removal, and if that call is not acted upon, you need to sue.  ... Read Answer

You are mixing concepts.  Partners are in a partnership.  Shareholders are in a corporation.  An S-Corp is a tax designation and has nothing to do with ownership.  The transfer of shares is governed by the shareholders' agreement, if there is one.  No one can take your shares without your consent, but you may not or may have a say on who is issued shares.... Read Answer

This is a complicated set of circumstances. It depends on, among other things, the terms of the insurance application and policy, whether the companies involved report consolidated results for tax or books, and a host of other fact inquiries. If you want to discuss the metter with a lawyer you may reach out, but this idea is far more complicated than it presents. Thatcher Stone   646 873 7521  ... Read Answer

The reference to 501 (c)(3) is a tax provision that probably has very little to do with corporate power and authority. Normally shareholders vote for members of the Board but with a not for profit the rules may be different. It depends on the certificate of incorporation and by-laws if it is a corporation. Call me for a consultation if you have both handy. 646 873 7521.... Read Answer