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When Buyout Agreements Go Awry

When Buyout Agreements Go Awry

By Nina Kaufman, Esq.

It’s never a pretty sight when a business partnership has to be dissolved. Even uglier is what happens when you put in the time and effort to create a partnership agreement, only to find that the terms you included create more confusion than clarity. The cleverly-named blog, New York Business Divorce (why didn’t I think of that?), highlights a recent New York State case where the confusion over the definition of certain terms led to a major dispute when Joseph Costello, a lawyer with the firm of Costello, Shea & Gaffney, died.  The surviving law partners disagreed with the way Costello’s estate interpreted their 1993 partnership agreement. (Gee, imagine that). At stake was Costello’s capital account when he died, calculated at over $130,000.00. It’s a fascinating (for some of us) analysis of how the Nassau County Court reached its decision. Essentially, the judge had to parse through the language to see where the inconsistencies lay. If you accept Costello’s estate’s interpretation of the language, did it meet a reasonable, logical conclusion? What about the surviving partners?…

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Nina Kaufman

Flying solo doesn’t have to mean going it alone.

I’m Nina Kaufman.

I know first-hand that running a knowledge-based service business has unique challenges. It’s so much easier when you have an advocate in your corner. Over the past 25 years, I’ve worked with thousands of New York business professionals who want a legal advisor to guide and support them as they navigate the business world.

With wide-ranging experience as a business attorney, strategist, and media authority, I bring the added power of a business lens to the legal issues my clients are facing.

And because I’ve been a business owner myself, I’ve lived through the soaring highs and devastating lows – like when my first law firm failed. So I understand what’s involved to serve great clients, detect business risks early and build a true legacy.

I can’t get those 12 years back. That’s why I have made it my mission to ensure that business professionals like you can become wise and discerning leaders, build a solid business, and live your best life.