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ACACIA MUT. LIFE v. AMERICAN GENERAL LIFE

Nos. 17782, 17783.

802 P.2d 11 (1990)

111 N.M. 106

ACACIA MUTUAL LIFE INSURANCE COMPANY, et al., Plaintiffs, v. AMERICAN GENERAL LIFE INSURANCE COMPANY, et al., Involuntary Plaintiff, v. ADS ASSOCIATE, L.P., et al., Defendants, v. Aaron David SILVER and Jerilyn H. Silver, Defendants-Appellants, v. John CLARK, Receiver for Santa Fe Private Equity Fund II, Receiver-Appellee. ACACIA MUTUAL LIFE INSURANCE COMPANY, et al., Plaintiffs, v. AMERICAN GENERAL LIFE INSURANCE COMPANY, et al., Involuntary Plaintiff, v. ADS ASSOCIATES, L.P., et al., defendants, v. ADS PARTNERS, L.P., Defendant-Appellant, v. John CLARK, Receiver for Santa Fe Private Equity Fund II, Receiver-Appellee.

Supreme Court of New Mexico.

Rehearing Denied January 9, 1991.

Attorney(s) appearing for the Case

Roth, VanAmberg, Gross, Amarant & Rogers, F. Joel Roth, Santa Fe, for defendants-appellants.

Montgomery & Andrews, Walter J. Melendres, Santa Fe, for receiver-appellee.

OPINION

BACA, Justice.

Appellant David Silver was the general partner of the Santa Fe Private Equity Fund II, L.P. (SFPEF II), a limited partnership. He appeals from a court order that affirms a settlement agreement arrived upon by the limited partners through their receiver, John Clark, appellee. The order distributes the assets of the limited partnership in the order of priority mandated by the legislature in Section 54-2-23 of the Uniform Limited Partnership...

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