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MNY 260 PARK AVENUE SOUTH, LLC v. MAX 260 PARK AVENUE SOUTH, LLC

63 A.D.3d 628 (2009)

882 N.Y.S.2d 90

MNY 260 PARK AVENUE SOUTH, LLC, et al., Respondents, v. MAX 260 PARK AVENUE SOUTH, LLC, Appellant, et al., Defendants.

Appellate Division of the Supreme Court of New York, First Department.

Decided June 30, 2009.

The court correctly found that the moving defendant failed to make its initial prima facie showing that plaintiffs' interests were properly diluted. Plaintiffs demonstrated that dilution was improper because there was no adherence to the requirements set forth in defendant's limited liability corporation agreement regarding the qualifications of a "Funding Member" (see Hanson v Capital Dist. Sports, 218 A.D.2d 909, 911 [1995]), and...

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