Peter Kertesz formed an LLC and operated it in South Florida under the business name Mourning Flowers. The LLC specialized
Peter Kertesz formed an LLC and operated it in South Florida under the business name "Mourning Flowers." The LLC specialized in the sale of flowers to funeral homes. Although Kertesz was initially the only member and manager, he ultimately granted ownership interests totaling 55 percent of the LLC to six individuals. In mid-2007, the members had a falling out that culminated in the majority removing Kertesz as managing member. Kertesz alleged that shortly after this, the LLC's distributors and clients "threatened to terminate their relationship with the LLC if Kertesz was not brought back into the operations of the LLC." These actions, Kertesz claimed, caused the LLC to suffer irreparable harm. Kertesz sought the judicial dissolution of the LLC on the basis of these circumstances and an alleged deadlock in management of the LLC, and sought the appointment of a receiver to protect the assets and goodwill of the LLC. What relief, if any, is Kertesz entitled to? [Kertesz v. The Spa Floral, LLC, 994 So.2d 473 (Fla. App.)]
Goodwill Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of...