Qiao

I. FACTUAL AND PROCEDURAL BACKGROUND

At the beginning of 2018, Zhenfei Xiang (Xiang) and his wife Xiaoshan He (He)

owned 91 percent of Golden Taste LLC (Taste), an LLC that was the general partner and

owner of 95 percent of Golden Globe LP (Globe). Globe is a limited partnership that was

the franchisee of a Golden Corral restaurant in San Bernardino. Xiang wanted to exit the

restaurant business. On January 19, 2018, Xiang entered into a Limited Partnership

Interest Purchase Agreement (LP Agreement) with Plaintiff, wherein Plaintiff agreed to

purchase a 51 percent interest in Globe for a total purchase price of $2.04 million.

Plaintiff paid $1,150,000, and the remaining $890,000 was to be recorded as a receivable.

Plaintiff also signed a First Amendment of Limited Partnership Agreement of Globe (LP

Plaintiff’s action differs from the lower court’s title because we do not identify the individuals or entities that are not parties to the appeal. (Cal. Style Manual (2000) § 6.4.) Plaintiff’s motion is therefore denied.

2 Amendment), which provided that since Plaintiff had not paid the full purchase price

under the LP Agreement, it was in Globe’s best interests for Taste,…