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MATTER OF FGLS EQUITY LLC

Index No. 157170/19. Appeal No. 13531. Case No. 2020-02819.

193 A.D.3d 450 (2021)

141 N.Y.S.3d 694

2021 NY Slip Op 02099

In the Matter of FGLS Equity LLC, Petitioner. Sajust, LLC, et al., Respondents-Counterclaimants-Appellants, v. FGLS Equity LLC, Petitioner-Counterclaim Defendant-Respondent. The Mendelow Family Foundation, Inc., Intervenor-Respondent.

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

Decided April 6, 2021.

Attorney(s) appearing for the Case

Kagen Caspersen & Bogart PLLC, New York ( Russell Bogart of counsel), for appellants.

Yeskoo Hogan & Tamlyn, LLP, New York ( Richard C. Yeskoo of counsel), for FGLS Equity, LLC, respondent.

Concur—Renwick, J.P., Kennedy, Scarpulla, Shulman, JJ.

The decisions of FGLS's managing member and liquidator, Steven Turchin, to forgo litigation against the Estates of Steven and Nancy Mendelow, their counsels, and related parties (together the Mendelow Parties), and to include the Mendelow Family Foundation (MFF) in the distribution of FGLS's assets, are protected by the business judgment rule (see Auerbach v Bennett, 47 N.Y.2d 619, 629 [1979]). Turchin's letter setting forth his...

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