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LARKEN MINNESOTA, INC. v. WRAY

Civ. Nos. 3-93-589, 3-93-818 and 3-94-50.

881 F.Supp. 1413 (1995)

LARKEN MINNESOTA, INC., Larken, Inc., Larken Iowa City, Inc., Plaintiffs, v. Dirk A. WRAY, Al Yip, Lenora K. Chen, Pine Hill Minnesota, Inc., and Pine Hill, Minnesota Investments, Inc., Defendants. Dirk A. WRAY, Al Yip, Lenora K. Chen, Pine Hill Minnesota, Inc., and Pine Hill, Minnesota Investments, Inc., Plaintiffs, v. LARKEN, INC. and Larken Minnesota, Inc., Defendants. Dirk A. WRAY, Al Yip, Lenora K. Chen, Pine Hill Iowa, Inc., and Pine Hill Iowa Investments, Inc., Plaintiffs, v. LARKEN, INC. and Larken Minnesota, Inc., Defendants.

United States District Court, D. Minnesota, Third Division.

April 5, 1995.

Attorney(s) appearing for the Case

John E. Brandt, James F. Baldwin (argued), John R. Shoemaker, Murnane Conlin White & Brandt, St. Paul, MN, Frank Hill, Frank Gilstrap, Larry L. Fowler, Robert R. Bodoin (argued), Hill Heard Gilstrap Goetz & Moorhead, Arlington, TX, for Larken Minnesota Inc., Larken Inc., and Larken Iowa City Inc., plaintiffs.

Arthur P. Morello, Jr. (argued), Petit & Martin, C. Thomas Drosman, Drosman & Anapoeli, Newport Beach, CA, for Dirk A. Wray, and Al Yip.

Howard O. Boltz, Jr. (argued), Bryan Cave McPheeters & McRoberts, Los Angeles, CA, for Lenora K. Chen, Pine Hill Minnesota, Inc. and Pine Hill Minnesota Investments Inc., defendants.

MEMORANDUM AND ORDER

MAGNUSON, Chief Judge.

These consolidated matters are before the Court with regard to the appropriate disposition of the two partnership properties following the failure of the Larken Interests1 to close their purchase of those properties at a price of $39.35 million. This issue was originally presented to Magistrate Judge Jonathan G. Lebedoff in the form of a motion by the Pine Hill Interests

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