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Guttman v. Guttman, No. B307048, 2021 Cal. App. LEXIS 1014 (Ct. App. Dec. 2, 2021)

Under Corp. Code 15908.02(b), majority partners may file a motion for a compelled appraisal and buyout of a minority partner who has sued for involuntary dissolution of a limited partnership.  Once the motion is granted, the buyout procedure supplants the minority partner's dissolution claim.  This decision holds that once the court has entered an order granting the motion for a… Read More

Schrage v. Schrage, No. B298119, 2021 Cal. App. LEXIS 780 (Ct. App. Sep. 2, 2021)

Plaintiff sued to dissolve several LLCs and close corporations.  Defendants invoked their right to buy plaintiff's interests in the companies at appraised value.  The parties stipulated to add five additional LLCs to the group of companies being appraised for buyout purposes even though plaintiff had not sued to dissolve them.  After the trial court entered a judgment setting the appraised… Read More