Labovitz v. Dolan

545 N.E.2d 304 (Ill. App. 1989)

We prevailed on appeal in a partnership dispute where the general partner, Charles Dolan, argued that he had broad discretion in making cash distributions to his limited partners. In this breach of fiduciary duty case, the appellate court held that notwithstanding the partnership agreement’s broad discretionary language, a general partner could not use his power to squeeze his limited partners out of the partnership. The Illinois appellate court required the general partner fiduciary to carry the burden of proof and present evidence that his conduct was fair.

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