Father’s Dead-Hand Control of LLCs Frustrates Sons’ Takeover of Realty Empire

By | NY Business Divorce | April 21, 2014
Father’s Dead-Hand Control of LLCs Frustrates Sons’ Takeover of Realty Empire

I recently wrote about the Kensington Publishing case in which the two children of the deceased business founder’s first marriage took control of a successful publishing house — to the consternation of the founder’s surviving second wife who inherited a majority of the company’s voting shares — by means of a voting agreement signed by the father without his wife’s knowledge several years before he died.