Harbor Cove Marina Partners Partnership, Robert A. Collins, A Partner Other Than The Tax Matters Partner - Page 17

                                       - 17 -                                         
               Agreement required a public sale of the partnership                    
               assets upon dissolution;                                               
                    2.  Notwithstanding the foregoing, plaintiff shall                
               have and recover nothing against defendants, or any of                 
               them, except the plaintiff may withdraw the sum of                     
               $389,662 deposited with the Court, plus interest                       
               accrued thereon;                                                       
                    3.  Defendants [sic] Sunroad Asset Management,                    
               Inc. shall have and receive from plaintiff the sum of                  
               $388,514.93 * * *; said sum represents the reasonable                  
               attorneys’ fees and costs of Sunroad Marina, Inc. and                  
               its predecessors [sic] Sunroad Asset Management, Inc.                  
               in defending against plaintiff’s First, Second, Fifth                  
               and Sixth Causes of Action, and which sum is net of                    
               plaintiff’s reasonable attorneys’ fees and costs with                  
               respect to the Fourth Cause of Action to August 11,                    
          The judgment reflected the trial court’s holding against Collins            
          as to each of his six causes of action but for the fourth.                  
               The trial court’s accompanying “STATEMENT OF DECISION”,                
          which was amended on November 9, 2000, to correct a minor                   
          typographical error, reflected the trial court’s finding that               
          HCMP was dissolved on May 26, 1998, and that HCMP was terminated,           
          was wound up, and had its assets distributed as of December 8,              
          1998.  The trial court also found that the payment of $389,662 to           
          Collins for his interest in HCMP was not less than the fair                 
          market value of that interest and ordered that Collins could                
          withdraw from the trial court the $389,662 (with interest                   
          thereon) as full compensation for his interest in HCMP.  Collins            
          shortly thereafter withdrew the $389,662 from the trial court.              

Page:  Previous  7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  23  24  25  26  Next

Last modified: May 25, 2011