Limited Partnership

Subscribe to Limited Partnership via RSS

Manhattan Supreme Court Justice Saliann Scarpulla’s recent ruling in Poole v. West 111th Street Rehab Associates illustrates some of the difficult interpretive and factual issues that often accompany internal partnership disputes governed by the “old” Limited Partnership Act adopted by New York in 1922. This week’s New York Business Divorce explains.
Continue Reading Death of a General Partner, or How Not to Plan for Succession in a Limited Partnership

Do New York courts have authority to hear suits for judicial dissolution of New York-based foreign business entities? This week’s New York Business Divorce discusses a recent decision by Justice Anil C. Singh in Holdrum, N.V. v. Edelman, which highlights a split of appellate authority on the issue.
Continue Reading Judicial Muddle Persists Over Power to Dissolve Foreign Entities

Equitable remedy trumps pick-your-partner, is one way to describe the outcome in Garber v. Stevens, decided last month by Justice Eileen Bransten, who granted a motion by limited partners to remove the wrongdoing general partners of a real estate limited partnership and replace them with an LLC wholly owned by the limited partners. Read more about this unusual case in this week’s New York Business Divorce.
…
Continue Reading The Court’s Equitable Power to Remove and Replace a Limited Partnership’s General Partner