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Motion for Appointment of Special Master Receiver to Dissolve...
Seattle Washington 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.
The time it takes can vary based on the complexity of the partnership’s affairs, but generally, it can take from a few months to over a year. Patience is often the name of the game!
Absolutely. All partners should be kept in the loop regarding decisions, meetings, and actions taken during the dissolution, as clear communication is key to a smoother process.
If partners can’t see eye to eye, the court may appoint a special master receiver to mediate and manage the situation, making the tough decisions to ensure fairness. It’s like having an umpire in a baseball game.
Liabilities, which are debts or obligations of the partnership, need to be settled before any assets can be divided. Think of it like paying off your credit card bill before buying new shoes.
Disposing of assets means selling or redistributing any property or resources owned by the partnership. It’s like deciding what to keep, sell, or give away when moving to a new place.
Dissolving a partnership typically involves legal steps to wind up business affairs, settle debts, and distribute remaining assets among partners. It's like cleaning up a messy room before moving out.
A special master receiver is a court-appointed individual responsible for overseeing and managing a partnership's affairs, especially when there’s a conflict or need for resolution among partners. They help ensure everything is fair and above board.
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Seattle Washington 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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