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     VERDICTS & SETTLEMENTS         

In a lawsuit commenced in Florida state court in 2016, Tishkoff defended its client from a breach of contract claim seeking $500,000 in damages.  On behalf of its client, Tishkoff countersued.  The lawsuit was extensively litigated throughout this year.  This month, Tishkoff obtained a very favorable resolution of the lawsuit for its client, including release of liability for the subject damages, without payment, and with Tishkoff’s client obtaining a property acquisition deal valued in excess of $20 million.

FROM OUR BLOG

Withdrawing From A Limited Liability
Company In Michigan

If you are a member of a Michigan limited liability company (“LLC”) and want to withdraw your membership interest, you should make sure that your LLC’s operating agreement permits voluntary withdrawal of membership interest.  Pursuant to MCL 450.4509, a member may withdraw from an LLC only as provided in the operating agreement.  Id.  

Case law in Michigan confirms that the “only as provided in the operating agreement” language of MCL 450.4509 means that a member can no longer withdraw unless the operating agreement specifically permits withdrawal.  Altobelli v Hartmann, 307 Mich App 612; 861 NW2d 913 (2014), rev’d, in part vacated, 499 Mich 284; 884 NW2d 537 (2016).  

Ultimately, withdrawing your membership interest in an LLC is not an absolute right.  If your LLC’s operating agreement does not specifically allow you to withdraw your membership interest, you should explore other options, such as transferring your membership interest if the operating agreement permits.  

If you have questions or concerns about  business law or related matters, be sure to reach out to a attorney in Michigan today. The team at Tishkoff PLC is here to help. Contact us online or call our office today. Toll Free: 1 (855) TISH-LAW.

 LOCAL EVENTS

Magic: The Gathering Tournament
When: Friday, January 12, 2017
Where:  Get Your Game On, 310 S. State Street, Ann Arbor, Michigan
Time: 6:30 p.m.
Come play in competitive or casual tournaments featuring this popular card game.


Fiber Arts Lab
When: January 15 and 29, 2017
Where:  Ann Arbor District Library, Downtown Ann Arbor, Michigan
Time: 7:00 p.m.
All are invited to learn the basics of knitting (1/15) and crochet (1/29).  Materials are provided for this free event.


Exhibibtion On View: CLOUD/BANK
When: Monday, February 5, 2017
Where:  U-M Taubman College Of Architecture And Urban Planning
Time: 9:00 a.m. - 5:00 p.m.
Cloud/Bank is a temporary installation designed for Exhibit Columbus, a 2017 exhibition and conference in Columbus, Indiana, by Architecture Lecturer Michael (Mick) Kennedy and a team of Taubman College students. The project's goal is to embody and communicate the historic legacy of the distributed networks of design and fabrication of both industry and agriculture in the Great Lakes/Midwestern Region. Cloud/Bank features advanced manufacturing techniques in architectural design that are unique to Taubman College

TISHKOFF TIDBITS

Tishkoff wishes everyone a happy and healthy holiday season!
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Tishkoff PLC
407 North Main Street
Ann Arbor, Michigan 48104
(734) 663-4077

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Tishkoff PLC · 407 North Main Street · Ann Arbor, MI 48104 · USA

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