46 results for 'cat:"Partnerships"'.
J. Bourliot finds that the trial court properly ruled in favor of the individual on claims of breach of a partnership agreement against her former partners relating to a venture to sell personal protective equipment during the Covid-19 pandemic. The former partners' arguments regarding the breach of the partnership agreement claim lack merit. Affirmed.
Court: Texas Courts of Appeals, Judge: Bourliot, Filed On: May 2, 2024, Case #: 14-21-00558-CV, Categories: partnerships, Covid-19, Contract
Vice Chancellor Zurn declines to dismiss certain claims associated with $344 million paid to the founders of a partnership and other insiders for the loss of tax benefits in the partnership's conversion to a corporation because safe harbors in the partnership agreement are available, and the shareholder successfully pleads that defendants lacked leverage to extract payment for such.
Court: Delaware Chancery Court, Judge: Zurn, Filed On: April 24, 2024, Case #: 2022-0664-MTZ, Categories: Corporations, Tax, partnerships
J. Immergut denies summary judgment to the owner, the ranch and the livestock company for their counterclaim alleging that the cattle company sold 9,900 cattle as part of a partnership, but wrongfully withheld the sales proceeds. There is a genuine dispute as to whether the cattle company improperly kept the cattle sale proceeds from the sale of the partnership cattle.
Court: USDC Oregon, Judge: Immergut, Filed On: April 15, 2024, Case #: 3:22cv768, NOS: Other Contract - Contract, Categories: Fraud, partnerships, Contract
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J. Silva grants the developer's motion to dismiss his former partner's contract claim. The developer made significant purchases of shares of cannabidiol companies on his long-term partner's recommendation, a move that also included discussion of a 50/50 partnership. Though certain meetings were held in Nevada, investments were made in companies headquartered in other states, and the developer has not purposefully conducted business in Nevada or purposefully directed his activities toward Nevada. There is no basis for jurisdiction.
Court: USDC Nevada, Judge: Silva , Filed On: March 14, 2024, Case #: 2:22cv821, NOS: Other Contract - Contract, Categories: Securities, partnerships, Contract
J. Wendlandt determines the allocation of over 98% percent of a divorcing couple’s marital liabilities to alimony is not an equitable division of the couple’s marital estate. It is appropriate to consider a couple’s regular contributions to their savings plans when determining alimony. Reversed.
Court: Massachusetts Supreme Court, Judge: Wendlandt, Filed On: March 7, 2024, Case #: SJC-13473, Categories: Family Law, partnerships
J. Odenwald finds that this appeal from the lower court's judgment granting a partnership accounting to the respondents must be dismissed. The court's interlocutory order for the parties to conduct an accounting was not eligible for Rule 74.01(b) certification because no claim has been fully resolved.
Court: Missouri Court Of Appeals, Judge: Odenwald, Filed On: March 5, 2024, Case #: ED111756, Categories: Civil Procedure, partnerships
J. Ashe grants a request by the president and majority owner of an oilfield services company, dismissing on jurisdictional grounds its fired COO’s suit to dissolve the company, and for an accounting and access to company records. The president, a citizen of Florida, and the ex-COO, the company’s minority owner, is a citizen of Texas, so the company is a citizen of both states. The minority-shareholder's suit must be dismissed because it cannot proceed without the company, but adding the company would destroy the diversity of citizenship required for federal jurisdiction.
Court: USDC Eastern District of Louisiana , Judge: Ashe, Filed On: February 20, 2024, Case #: 2:23cv6409, NOS: Insurance - Contract, Categories: Civil Procedure, Corporations, partnerships
J. Houston partly grants the limited partner's motion for partial summary judgment concerning the sale of real estate assets. Although the co-general partner has an unambiguous right under the language of the Limited Partnership Agreement to sell the entirety of the real estate asset or to purchase the limited partnership's interest itself after the limited partner requests a sale, the limited partner still has the right to consent or decline a sale.
Court: USDC Southern District of California, Judge: Houston, Filed On: February 9, 2024, Case #: 3:19cv2075, NOS: Other Contract - Contract, Categories: Real Estate, partnerships
J. Worthen dissolves the temporary injunction granted to the business partner. The partner sought declaratory judgment that a note for land is not in default because the amount the owner owes the partner pursuant to a default judgment in another contract dispute exceeds the amount of the payment owed for the land. The injunction prevented the owner from foreclosing until the trial court rendered judgment and ordered the parties to schedule a trial. The trial court’s requirement the parties schedule a trial for an unspecified date by contacting the court coordinator does not comply with the rule governing the setting of the cause for a trial on the merits.
Court: Texas Courts of Appeals, Judge: Worthen , Filed On: January 31, 2024, Case #: 12-23-00211-CV, Categories: Due Process, partnerships, Contract
J. Traynor finds that a partnership agreement containing a forfeiture-for-competition provision is enforceable against former partners absent unconscionability, bad faith, or some other extraordinary circumstance. The court improperly aligned the partnership provision with restrictive employment covenants by subjecting it to the review for reasonableness.
Court: Delaware Supreme Court, Judge: Traynor, Filed On: January 29, 2024, Case #: 162, 2023, Categories: partnerships
Vice Chancellor Will finds that a general partner of a real estate venture breached the implied covenant of good faith and fair dealing by adopting a poison pill to deter a partner from redeeming units. Under the limited agreement, the partner has the express right to exit the investment by tendering notice of redemption, and thus adoption of the poison pill was unenforceable.
Court: Delaware Chancery Court, Judge: Will, Filed On: January 25, 2024, Case #: 2022-0607-LWW, Categories: Real Estate, partnerships
J. Baker upholds the trial court expulsion of a partner from a business partnership. The expelled partner's unilateral decisions and incarceration on tax charges, along with a breakdown in trust between partners, made the partnership no longer reasonably practicable. Affirmed.
Court: Montana Supreme Court, Judge: Baker, Filed On: January 16, 2024, Case #: DA 23-0247, Categories: partnerships, Contract
J. Moss finds reserves, in part, an order granting an individual's motion to appoint himself as substitute party for the decedent, who won a $7 million judgment against a former business partner. Questions remain whether the individual is required to file an appointment as personal representative of the decedent's estate and, if so, whether he has done so.
Court: USDC District of Columbia, Judge: Moss, Filed On: January 12, 2024, Case #: 1:09cv1642, NOS: Other Contract - Contract, Categories: Wills / Probate, partnerships, Enforcement Of Judgments
J. Crites-Leoni largely denied the defendant brother's motion for partial judgment on the pleadings in a dispute over the brothers' joint ownership of a large amount of farmland. There is sufficient evidence in the record to support the existence of a partnership between the borhters, not just a landlord-tenant farming arrangement. Therefore, the plaintiff brother has standing to sue his brother for allegedly fraudulently misrepresenting the amount of income being generated by the farm.
Court: USDC Eastern District of Missouri, Judge: Crites-Leoni, Filed On: January 12, 2024, Case #: 1:21cv34, NOS: Recovery of Overpayment & Enforcement of Judgment - Contract, Categories: Fraud, Real Estate, partnerships
Per curiam, the appellate division finds that the lower court properly dismissed the complaint against the Rockefellers, who each hold a 25% interest in a construction company accused of breaching a loan agreement. As limited partners, the Rockefellers cannot be held personally liable for the obligations of the partnership. Affirmed.
Court: New York Appellate Divisions, Judge: Per curiam, Filed On: December 27, 2023, Case #: 06769, Categories: partnerships, Banking / Lending
J. Chesler dismisses claims contending a co-owner of a boutique employment and recruiting agency received a lowball offer to buy out her shares; that bank access had been cut off; and that she had been prohibited from disclosing information about the company to third parties. Evidence does not indicate the non-disclosure agreement constituted a "reasonable restriction" to the deal, and much of the conduct merely constituted "hardball negotiating tactics."
Court: USDC New Jersey, Judge: Chesler , Filed On: December 8, 2023, Case #: 2:23cv2620, NOS: Other Contract - Contract, Categories: partnerships, Contract
J. Kelly finds the trial court improperly in part found in favor of a family partnership in a trespass to title suit brought by a charitable foundation. The summary judgment motion submitted by the partnership did not address the foundation’s trespass to title claims for specific tracts of land. Therefore, when the trial court granted the motion, it did so acting outside of the confines of the motion. However, the court did act within its discretion to award attorney fees to the partnership. Reversed in part.
Court: Texas Courts of Appeals, Judge: Kelly, Filed On: November 30, 2023, Case #: 03-21-00561-CV, Categories: partnerships, Attorney Fees
Per curiam, the appellate division finds that the lower court properly held that a co-owner's interest in two car dealerships ended when he turned over his shares to his partner under the terms of an agreement triggered by his conviction for murdering his wife. That he was ultimately acquitted after several trials did not return him as an owner to provide him a majority stake because, by its own terms, the agreement had ended when his partner was the sole remaining shareholder. Affirmed.
Court: New York Appellate Divisions, Judge: Per curiam, Filed On: November 2, 2023, Case #: 533292, Categories: partnerships, Contract
J. Nugee finds a lower court properly sentenced a company owner to eight months in prison for contempt of court. The beauty filler products company owner argued that her sentence is unreasonable. However, during proceedings she committed 30 contempt of court violations for failing to provide ordered documents. Affirmed.
Court: Her Majesty's Court of Appeal, Judge: Nugee, Filed On: October 19, 2023, Case #: CA-2023-765, Categories: Contempt, partnerships, Contract
Vice Chancellor Will denies summary judgment to a controlling shareholder who tried to unilaterally remove a board member without the approval of another controlling shareholder because both shareholders owned equal shares and co-managed the controlling partnership.
Court: Delaware Chancery Court, Judge: Will, Filed On: October 16, 2023, Case #: 2023-0805-LWW, Categories: partnerships