Narrative Opinion Summary
The Supreme Court of New York County, presided over by Justice Walter Schackman, issued an order on September 29, 1995, which granted the plaintiff's motion for summary judgment, mandating a limited partnership accounting. The court found that the plaintiff, a limited partner, presented sufficient circumstances justifying the requirement for the defendant, a general partner, to provide full disclosure of the requested information. It was determined that the limited partners are proper parties to be included should the plaintiff pursue a complete accounting or seek additional relief. Furthermore, the court ruled that the plaintiff's right to a formal accounting was not waived or precluded by any specific terms within the limited partnership agreement. The decision was affirmed unanimously, without costs, by Justices Rosenberger, Wallach, Rubin, Kupferman, and Mazzarelli.
Legal Issues Addressed
Obligations of General Partners for Disclosuresubscribe to see similar legal issues
Application: The general partner was required to disclose information to the limited partner due to sufficient circumstances presented by the plaintiff.
Reasoning: The court found that the plaintiff, a limited partner, presented sufficient circumstances justifying the requirement for the defendant, a general partner, to provide full disclosure of the requested information.
Rights of Limited Partners in Accounting Actionssubscribe to see similar legal issues
Application: Limited partners are entitled to be included in actions for a complete accounting or additional relief.
Reasoning: It was determined that the limited partners are proper parties to be included should the plaintiff pursue a complete accounting or seek additional relief.
Summary Judgment in Partnership Disputessubscribe to see similar legal issues
Application: The court granted the plaintiff's motion for summary judgment, compelling the defendant to provide an accounting of the partnership.
Reasoning: The Supreme Court of New York County, presided over by Justice Walter Schackman, issued an order on September 29, 1995, which granted the plaintiff's motion for summary judgment, mandating a limited partnership accounting.
Waiver of Right to Formal Accountingsubscribe to see similar legal issues
Application: The plaintiff's right to a formal accounting was upheld as not being waived by the partnership agreement.
Reasoning: Furthermore, the court ruled that the plaintiff's right to a formal accounting was not waived or precluded by any specific terms within the limited partnership agreement.