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Feb 22, 2023

Partnerships – Contract – Real Property – Division of Profits

Even though the parties have not strictly adhered to the terms of their written 1979 partnership agreement, this does not support the master-in-equity’s finding that no partnership existed. We affirm the master’s holding that plaintiff and defendant Fanning (defendant) each own an undivided one-half interest in the parcel in question, but we reverse the finding […]

May 6, 2015

Partnerships — Limited Partner – Texas Apartment Complex – General Partner’s Theft – Asset Manager’s Takeover

Global State Investment USA, Inc. v. LAS Properties, LLC (Lawyers Weekly No. 002-081-15, 19 pp.) (David Norton, J.) 2:14-cv-04494; D.S.C. Holding: A limited partner has standing under the Texas Uniform Fraudulent Transfer Act based on its allegations that it was deprived of personal property: its membership interest in a limited partnership. Plaintiffs’ motion to dismiss […]

Apr 10, 2015

Partnerships — State Court Clarifies Partnership Law

Valentine v. Sugar Rock Inc. (Lawyers Weekly No. 001-066-15, 6 pp.) (King, J.) No. 12-2273, April 2, 2015; USDC at Clarksburg, W.Va. (Keeley, J.) 4th Cir. Holding: The 4th Circuit vacates summary judgment for a plaintiff pursuing an accounting of four mining partnerships and remands this matter, in light of the response of the Supreme […]

Feb 5, 2015

Partnerships — Court Strikes Transfer of Shopping Center Interest

Lee Graham Shopping Center LLC v. Estate of Diane Z. Kirsch (Lawyers Weekly No. 001-027-15, 14 pp.) (Shedd, J.) No. 13-2348, Feb. 2, 2015; USDC at Alexandria, Va. (O’Grady, J.) 4th Cir. Holding: A woman could not transfer her interest in a family partnership that owned a Falls Church shopping center to a trust for […]

Jan 9, 2012

Partnership – Agreement – Withdrawal – Lost ‘Rights’

Pellegrin v. Berthelsen 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[...]

Aug 10, 2009

Partnerships – Dissolution – Separation Agreement – Later- Filed Claims – Liability

Dissolution - Separation Agreement - Later- Filed Claims - Liability

May 2, 2005

Agency and Partnership – Dissolution – Breach of Fiduciary Duty – Management of Assets

Dissolution - Breach of Fiduciary Duty - Management of Assets

Mar 1, 2004

Agency and Partnership – General Partnership – Contribution – Partnership Debt

General Partnership - Contribution - Partnership Debt

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