The New York Court of Appeals ruled Thursday that partners in a law firm operating as a limited liability partnership are not shielded from personal liability in disputes with each other.
The court’s 5-2 decision in Ederer v. Gursky, 133, stems from a 2003 lawsuit filed by intellectual property lawyer Louis Ederer against his former partners at the now-defunct Gursky & Ederer. Now a partner in the New York office of Arnold & Porter, Ederer sought an accounting, claiming he was owed money pursuant to the agreement by which he withdrew from the firm.
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