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State court of last resort · ST-VA-SC
Waikoloa Ltd. Partnership v. Arkwright
No. 031909Supreme Court of Virginia
031909 Waikoloa Ltd. Partnership v. Arkwright 06/10/2004 In a case involving four limited partnerships, the chancellor correctly held that dissolution occurred when a managing partner's physical condition amou…
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031909 Waikoloa Ltd. Partnership v. Arkwright 06/10/2004 In a case involving four limited partnerships, the chancellor correctly …
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- Supreme Court of Virginia
- First added here
- October 4, 2026
- Last entry
- June 10, 2004
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031909 Waikoloa Ltd. Partnership v. Arkwright 06/10/2004 In a case involving four limited partnerships, the chancellor correctly held that dissolution occurred when a managing partner's physical condition amounted to effective retirement, and that under express terms of the parties' agreements it was the remaining general partner's duty to sell or liquidate the assets of the partnerships. However, the chancellor erred in ruling that a successor partnership was required to make payments to limited partners in the original four partnerships based on a particular appraisal. The judgment is affirmed in part, reversed in part, and final judgment is entered.
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· Supreme Court of Virginia
ReversedAffirmed
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031909 Waikoloa Ltd. Partnership v. Arkwright 06/10/2004 In a case involving four limited partnerships, the chancellor correctly held that dissolution occurred when a managing partner's physical condition amounted to effective retirement, and that under express terms of the parties' agreements it was the remaining general partner's duty to sell or liquidate the assets of the partnerships. However, the chancellor erred in ruling that a successor partnership was required to make payments to limited partners in the original four partnerships based on a particular appraisal. The judgment is affirmed in part, reversed in part, and final judgment is entered.
Outcome words in this text: affirmed, reversed.
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