- 18 -
Collins appealed to the court of appeal the portion of the
trial court’s judgment that denied him specific performance of
the provision in the partnership agreement that required the
liquidation and sale of HCMP’s assets upon its dissolution. The
Sunroad defendants cross-appealed from the portion of the trial
court’s order granting Collins summary adjudication on the fourth
cause of action that decreed that Sunroad Asset must sell HCMP’s
assets “on the open market” and may not distribute them in kind.
On March 25, 2002, respondent mailed the FPAA to “Tax
Matters Partner, Harbor Cove Marina Partners” and mailed a copy
of the FPAA to Sunroad Asset in its capacity as HCMP’s tax
matters partner. Respondent determined in the FPAA that HCMP’s
partnership return was correct as filed. The FPAA states that
the bases for this determination were twofold. First, the FPAA
states, HCMP filed a “final” partnership return for that year.
Second, the FPAA states, the trial court concluded in its October
17, 2000, decision that HCMP “dissolved” as of May 26, 1998.
On March 29, 2002, 3 days after the FPAA was issued, the
court of appeal affirmed the holding for Collins on the fourth
cause of action and reversed the trial court’s holding against
Collins on the sixth cause of action concerning specific
performance. The court of appeal directed the trial court to
grant to Collins specific performance of that provision of the
partnership agreement and awarded to him his costs of appeal.
Page: Previous 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 NextLast modified: May 25, 2011