Sign In
Events
Newsletters
Search

Close

Close Search

Cancel

SEARCH
MY LAW.COMNEW

ESTATE OF MERCER, Deceased

ESTATE OF MERCER, Deceased. (08/P/211P) — Before the court is an application for limited letters of trusteeship. Upon the submission of responsive pleadings, counsel for the parties have agreed to submit the matter to the court for a determination.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ESTATE OF MERCER, Deceased. (08/P/211P) — Before the court is an application for limited letters of trusteeship. Upon the submission of responsive pleadings, counsel for the parties have agreed to submit the matter to the court for a determination.

The underlying petition seeks limited letters of trusteeship, apparently pursuant to SCPA 702(9), for the purposes of pursuing a claim against Gil Seton, Jr., UMIC GP LLC, SP Investment Fund LLC, UMIC Merger LLC and UMIC — Upstate Associates — 78, L.P. It appears from the submissions before the court that a federal lawsuit, currently pending in the U.S. District Court for the Northern District of Delaware, was commenced by a limited partner of UMIC Upstate Associates-78, L.P. (“UMIC”) some time after the trustees of the captioned trusts accepted a buyout of the trusts’ limited partnership interests in UMIC. According to the attorney representing the plaintiffs in the federal action, if successful under Delaware law, plaintiffs could receive twice the proceeds paid to them for the purchase of their minority interests as merger consideration.

Trending Stories

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

LEARN MORE

More From ALM

Premium Subscription
With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now
Team Accounts
Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now
Bundle Subscriptions
Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
Go to CLE Center
Complex Claims & Litigation Forum 2025
February 24, 2025 - February 26, 2025
Las Vegas, NV

This conference aims to help insurers and litigators better manage complex claims and litigation.


Learn More
Legalweek Leaders in Tech Law Awards 2025
March 24, 2025
New York, NY

Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives.


Learn More
Legalweek New York 2025
March 24, 2025 - March 27, 2025
New York, NY

Legalweek New York explores Business and Regulatory Trends, Technology and Talent drivers impacting law firms.


Learn More
Go to Events Go to Webcasts
TRADEMARK ATTORNEY (Newark, NJ Office)

McCarter & English is actively seeking a 5th-6th year trademark associate who has trademark prosecution, licensing and litigation experi...


Apply Now ›
EXPERIENCED LEGAL SECRETARY/PARALEGAL

**PLEASE READ THE COMPLETE AD BEFORE APPLYING***Established 25-year boutique Plaintiff's Personal Injury Law Firm in the Dadeland area seeki...


Apply Now ›
(EXCLUSIVE FULLY REMOTE) SENIOR CONSTRUCTION LITIGATION ASSOCIATE WANTED FOR MULTI-STATE BOUTIQUE LAW FIRM (Florida)

Our client, a multi-state full-service boutique, is seeking to add a senior construction litigation associate to their Florida team. Qualif...


Apply Now ›
Go to Lawjobs