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BERNARDS v. SUMMIT REAL ESTATE MANAGEMENT

06-01-00508; A135831 (Control) 06-01-00509; A135833.

213 P.3d 1 (2009)

229 Or. App. 357

Walter BERNARDS and Jerry Bernards, as individuals and derivatively on behalf of Pioneer Ridge Apartments, LLC, an Oregon limited liability company, Plaintiffs-Appellants, v. SUMMIT REAL ESTATE MANAGEMENT, INC., an Oregon corporation; Michael McKenna, Franklin Piacentini, Dorothy Piacentini, Ann Haun, and J. Guy Farthing, trustee of the Farthing Living Trust, Defendants-Respondents, and Pioneer Ridge Apartments, LLC, an Oregon limited liability company; and West Portland Construction, Inc., an Oregon limited liability company, Nominal Defendants-Respondents. Walter Bernards and Jerry Bernards, as individuals and derivatively on behalf of Greenbrier Apartment Buildings, LLC, an Oregon limited liability company, Plaintiffs-Appellants, v. Summit Real Estate Management, Inc., an Oregon corporation; Michael McKenna; Franklin Piacentini; Dorothy Piacentini; Thomas Haun; and J. Guy Farthing, trustee of the Farthing Living Trust, Defendants-Respondents, and Greenbrier Apartment Buildings, LLC, an Oregon limited liability company; and Lun, LLC, an Oregon limited liability company, Nominal Defendants-Respondents.

Court of Appeals of Oregon.

Decided July 1, 2009.

Attorney(s) appearing for the Case

Kevin H. Kono, Portland, argued the cause for appellants. With him on the briefs were Christopher P. Koback and Davis Wright Tremaine LLP.

Marc D. Blackman, Portland, argued the cause for respondents Summit Real Estate Management and Michael McKenna. With him on the brief were Kendra M. Matthews and Ransom Blackman LLP.

Joel A. Mullin, Portland, argued the cause for respondents Franklin Piacentini, Dorothy Piacentini, Thomas Haun, Ann Haun, and J. Guy Farthing. With him on the brief were James N. Westwood and Stoel Rives LLP.

No appearance for respondents Pioneer Ridge Apartments LLC, West Portland Construction, Inc., Greenbrier Apartment Building LLC, and Lun LLC.

Before LANDAU, Presiding Judge, and WOLLHEIM, Judge, and SCHUMAN, Judge.

SCHUMAN, J.

Plaintiffs are members of two limited liability companies (LLCs), each of which owns an apartment complex. They brought this derivative action in the name of the LLCs against the other members (member defendants), arguing that member defendants breached a duty to the LLCs by refusing to take legal action against the company that managed the apartments and one of its officers who had embezzled LLC funds.1 Plaintiffs argue that...

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