Partnership Dissolved for Frustration of Purpose 
By Deborah Elkins
Published: May 1, 2012
Tags: Justice Elizabeth B. Lacy, Partnerships, Supreme Court of Virginia
A brother and sister who were co-trustees and held interests in a real estate development partnership set up by their father have been unable for years to agree on trust matters, causing the trust to incur additional expenses because of these disagreements, and the Virginia Supreme Court upholds judicial dissolution of the partnership, based on [...]
For Law Firm Dissolution, Accounting Comes First
By Deborah Elkins
Published: September 20, 2011
Tags: Justice William C. Mims, Partnerships, Supreme Court of Virginia
In sorting out the interests of three former associates who bought into a law partnership in 1999 with defendant partner, after all four lawyers moved on to another firm, a circuit court erred in failing to perform the accounting that is “necessarily inherent in a winding up” of the firm’s business before ordering judicial dissolution [...]
Partnerships – Dissolution Agreement – RULPA
By Deborah Elkins
Published: October 5, 2010
Tags: Fairfax County Circuit Court, Judge Leslie M. Alden, Partnerships, Virginia Circuit Courts
Because a general partner in this family real estate partnership concurrently failed to admit a new general partner and withdrew as sole general partner, the partnership was left without a general partner, and her actions in 2003 triggered the dissolution of the partnership, says a Fairfax Circuit Court. In 1994, Verlin W. Smith and Maryan [...]
Partnerships – Foreign LP – Virginia Dissolution
By Deborah Elkins
Published: February 1, 2010
Tags: Judge Mary Jane Hall, Norfolk Circuit Court, Partnerships
In this first-impression case, a Norfolk Circuit Court says it has no jurisdiction to dissolve a Georgia limited partnership, even though none of the LP’s assets – a $20 million brokerage account – or its family-feud partners have any connection to Georgia and defendants waited until the eve of trial to seek dismissal. Defendants argue [...]
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