OLIVER v. BOONE

Index No. 651822/20. Appeal No. 13827. Case No. 2021-00249. 2021-00251.

194 A.D.3d 525 (2021)

2021 NY Slip Op 03119

James Oliver, Respondent, v. Mary Boone et al., Appellants, et al., Defendant.

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

Decided May 13, 2021.


Attorney(s) appearing for the Case

Zukerman Gore Brandeis & Crossman, LLP, New York ( Ted Poretz of counsel), for appellants.

McLaughlin & Stern LLP, New York ( Brett R. Gallaway of counsel), for respondent.

Concur—Renwick, J.P., Manzanet-Daniels, Kennedy, Shulman, JJ.


Contrary to defendants' contention, sections 3.4 and 8.3 of the partnership agreement do not conclusively state a limited partner has to make a capital contribution in order to be entitled to any distribution. They simply indicate the formula for how the profits are to be allocated and divided. Although it is clear that the original limited partners made capital contributions, the roster of limited partners has changed drastically during the partnership's existence, and none...

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