Appellate Division, Second Department · October 21, 2026 · 2026 NY Slip Op 06114
Matter of Coven v Neptune Equities, Inc.
Read the official decision: 2026 NY Slip Op 06114
Holding The Supreme Court did not improvidently exercise its discretion in denying the petition for judicial dissolution because the record failed to demonstrate that the dissension between the parties precluded the successful and profitable conduct of the corporation’s affairs. The court emphasized that the critical consideration is whether a deadlock exists, not who is at fault for the dissension.
The court’s words
the record fails to demonstrate that the dissension between Broder and the petitioner precluded the successful and profitable conduct of the corporation's affairs
2026 NY Slip Op 06114, at the official text
the issue is not who is at fault for a deadlock, but whether a deadlock exists
2026 NY Slip Op 06114, at the official text
| Court | Appellate Division, Second Department |
|---|---|
| Decided | October 21, 2026 |
| Citation | 2026 NY Slip Op 06114 |
| Area of law | Corporate, Securities and Business |
| Week | Week ending October 24, 2026 |
| Official text | Official decision: 2026 NY Slip Op 06114 |
| Publication status | Slip opinions are uncorrected and subject to revision before publication in the Official Reports. |
| Source feed | New York slip opinion page |
| Law Watch record id | 1379 |
Recommended citation
ESQ HQ, New York Law Watch, Matter of Coven v Neptune Equities, Inc., 2026 NY Slip Op 06114 (Appellate Division, Second Department, October 21, 2026), https://esqhq.com/decisions/2026-ny-slip-op-06114/
How this record was made
Holding drafted by Law Watch’s in-house model, graded by three reviewers; every quotation verified word for word against the official text.
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