In the high-stakes corporate world, the money can get quite large and a large number of big-law firms can get involved. What happens when operating agreements between highly sophisticated parties, each of which are represented by law firms alter the landscape. Which law firms represented which parties, how did that change and is there privity are the questions raised and answered in Binn v Muchnick, Golieb & Golieb, P.C. 2019 NY Slip Op 30568(U) March 5, 2019 Supreme Court, New York County Docket Number: 158105/2017.
Judge O. Peter Sherwood marshals the evidence and discusses a wide swath of causes of action, their elements and how the representation swirled and changed over time. What seems most relevant in this recitation is how the new operating agreement released all from prior claims. The details of this case are too fulsome to edit for a blog. It is highly worthwhile reading the entire case.