Does a partner's fiduciary duty include the buyout awarded in arbitration?
Posted: Thu Jun 18, 2015 11:39 am
List mates:
A former partner of a dissolved partnership has a huge arbitration award
based upon the valuation of the business.
The award itself does not find any breach of fiduciary duty or fraud or
conversion.
However, it does say he must pay the value of his partner's interest in
the business that was dissolved.
Question: Does the Debtor Partner who owes it to the Creditor Partner
have a fiduciary duty to pay it? Or since the partnership is terminated
does the Debtor Partner only owe it as an individual, not a partner?
Law Offices of Steven B. Lever
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> Steven B. Lever
>( Tel. (562) 436-5456 ext. 1
>( Fax (562) 485-6886
>* sblever@leverlaw.com
> www.leverlaw.com
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The post was migrated from Yahoo.