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FIRST PUBLIC CORP. v. PARFET

Docket No. 119204.

658 N.W.2d 477 (2003)

FIRST PUBLIC CORPORATION, First Venture Corporation, and Lou beer, Plaintiffs-Appellants, v. William U. PARFET, IRDC Acquisition Corporation, J.W. Henry Watson, Caledonia Group Inc., MPI Research, L.L.C., IRDC Acquisition Company, L.L.C., and Thomas J. Hoogeboom, Defendants-Appellees.

Supreme Court of Michigan.

April 8, 2003.

Attorney(s) appearing for the Case

Bendure & Thomas, (by Mark R. Bendure), Detroit, MI, for the plaintiffs-appellants.

Howard & Howard Attorneys, P.C., (by James H. Geary and Natalie W. Bernecker), Kalamazoo, MI, for defendants-appellees William U. Parfet, IRDC Acquisition Corporation, and MPI Research, L.L.C.

Richard L. Steinberg, P.C., (by Richard L. Steinberg and Donald C. Wheaton, Jr.), Detroit, MI, for defendants-appellees J.W. Henry Watson, Caledonia Group, Inc., and IRDC Acquisition Company, L.L.C.

Verspoor, Waalkes, Lalley, Slotsema & Talen, P.C., (by Daniel J. Slotsema), Grand Rapids, MI, for defendant-appellee Thomas J. Hoogeboom.

Opinion

PER CURIAM.

Plaintiffs seek leave to appeal a Court of Appeals judgment affirming the trial court's grant of defendants' motions for summary disposition. We affirm. However, because the Court of Appeals erred by recognizing an entirely new form of business entity not rooted in Michigan statutory or common law, we vacate in part its judgment.

I. Background1

At the heart of plaintiffs' various claims alleging...

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