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EVEREST INVESTORS 8 v. McNEIL PARTNERS

No. B159267.

8 Cal.Rptr.3d 31 (2003)

114 Cal.App.4th 411

EVEREST INVESTORS 8 et al., Plaintiffs and Appellants, v. McNEIL PARTNERS et al., Defendants and Respondents.

Court of Appeals of California, Second District, Division One.

Review Denied March 17, 2004.

Attorney(s) appearing for the Case

Fainsbert Mase & Snyder, Dennis A. Kendig; Law Office of John A. Case, Jr., and John A. Case, Jr., Los Angeles, for Plaintiffs and Appellants.

Browne & Woods, Eric M. George and Miles J. Feldman, Beverly Hills, for Defendants and Respondents.

Certified for Partial Publication.*

MALLANO, J.

A real estate limited partnership merges into a new entity, becoming a wholly owned subsidiary of the new entity. The interests of the limited partners are liquidated or cashed out, while the general partner retains an equity interest in the postmerger entity, which then sells the assets of the limited partnership to third parties for...

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