Partnership – Agreement – Withdrawal – Lost ‘Rights’ – South Carolina Lawyers Weekly

By: S.C. Lawyers Weekly staff//January 9, 2012

By: S.C. Lawyers Weekly staff//January 9, 2012

Pellegrin v. Berthelsen (Lawyers Weekly No. 002-011-12, 5 pp.) (David C. Norton, J.) 9:11-cv-00125; D.S.C.

Holding: Even though the parties’ partnership agreement takes away a partner’s “rights” once he withdraws from the partnership, this provision of the agreement does not prohibit plaintiff – a former partner who withdrew from the partnership — from suing his former partners for partnership dissolution/forced buy-out; breach of fiduciary duty; breach of contract; an accounting; an injunction; liquidation of partnership assets; and a declaration that plaintiff is relieved from making contributions to the partnership’s operating deficits.

Defendants’ motion for judgment on the pleadings is denied.

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