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CIALEO v. MEHLMAN

210 A.D.2d 67 (1994)

619 N.Y.S.2d 276

Joseph Cialeo, Individually and as a Limited Partner of Lexington-56th Associates, on Behalf of Himself and All Others Similarly Situated, and in the Right of Lexington-56th Associates, Appellant, v. George Mehlman et al., Respondents. (And Third-Party Actions.) (Action No. 1.) Joseph Cialeo, Individually and as a Limited Partner of Lexington-56th Associates, on Behalf of Himself and All Others Similarly Situated, and in the Right of Lexington-56th Associates, Appellant, v. George Mehlman et al., Respondents. (Action No. 2.)

Appellate Division of the Supreme Court of the State of New York, First Department.

December 8, 1994

In this action brought by a limited partner against the general partners and the assignees of a mortgage which was the limited partnership's only asset, in which plaintiff alleged that the general partners converted the mortgage and breached their fiduciary duties by pledging the mortgage as collateral for non-partnership obligations, the IAS Court properly concluded that, although the nature of the claim was derivative, plaintiff was not suited to represent the other limited...

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