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Motion for Appointment of Special Master Receiver to Dissolve...
Long Beach California Motion for Appointment of Special Master Receiver to Dissolve Partnership, Dispose of Assets and Settle all Affairs as to Assets and Liabilities
Defendant/Counter-Plaintiff files a motion for the appointment of a special master/receiver for the purpose of the dissolution of the partnership, disposition of assets, payment of liabilities, and settlement of partnership affairs. Since the dissolution, plaintiff/counter-defendant and defendant/counter-plaintiff had been unable to agree on the disposition of the partnership assets, liabilities, and settlement of its affairs.
Yes, partners may have the right to contest the appointment if they believe it’s unnecessary or if there’s a better way to resolve the issues without such intervention.
Liabilities can include debts owed to creditors, pending legal issues, or any obligations the partnership has. These need to be addressed to avoid future legal trouble.
The Special Master Receiver is usually a court-appointed individual, often a lawyer or business expert, chosen to ensure that everything goes smoothly during the dissolution and manages the assets fairly.
Settling all affairs means tying up loose ends, like paying debts and ensuring every partner gets their fair share of what’s left. This process aims to bring closure to the partnership.
Dissolving a partnership usually happens when partners can’t see eye-to-eye or if the business is facing financial woes. It's a way to untangle the mess and allow each partner to walk away with what’s theirs.
A Motion for Appointment of a Special Master Receiver is a legal request to have a designated person oversee and manage a partnership's affairs, especially when there's a need to sort things out due to disputes or financial troubles.
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Long Beach California Motion for Appointment of Special Master Receiver to Dissolve Partnership, Dispose of Assets and Settle all Affairs as to Assets and Liabilities
Motion for Appointment of Special Master Receiver to Dissolve Partnership, Dispose of Assets and Settle all Affairs as to Assets and Liabilities
Legal definition
Motion for Appointment of Special Master Receiver to Dissolve Partnership, Dispose of Assets and Settle all Affairs as to Assets and Liabilities
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