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LABOVITZ v. DOLAN

No. 1-88-1942.

189 Ill. App.3d 403 (1989)

545 N.E.2d 304

JOEL LABOVITZ et al., Plaintiffs-Appellants, v. CHARLES F. DOLAN et al., Defendants-Appellees.

Appellate Court of Illinois — First District (2nd Division).

Opinion filed September 26, 1989.

Attorney(s) appearing for the Case

Jay A. Canel and Peter M. King, both of Jay A. Canel, P.C., of Chicago, for appellants.

Jerrold E. Salzman, Raymond J. Mengler, and Daniel J. Lesser, all of Freeman, Freeman & Salzman, P.C., of Chicago, for appellees.

Reversed and remanded.

JUSTICE SCARIANO delivered the opinion of the court:

We have for decision in this case the issue, as posited by the plaintiffs, of whether management discretion granted solely and exclusively to a general partner in a limited partnership agreement authorizes the general partner to use economic coercion to cause his limited partner investors to sell their interests to him at a bargain price.

Plaintiffs as limited partners invested...

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