Austiaj Limited Partnership v. Parineh CA6

I. FACTUAL AND PROCEDURAL BACKGROUND

In 1992, Pooroushasb aka Peter Parineh (Peter), his now-deceased wife, Parima Parineh, and their three children, Austiaj, Hormoz and Khashayar, established ALP to hold the family‟s various investments, consisting mostly of real property. Peter owned 40 percent of ALP, with the other family members each holding a separate 15 percent interest in the partnership. Also in 1992, Guiv was designated as trustee of three individual irrevocable trusts4 established for the benefit of Austiaj, Hormoz and Khashayar. In 2010, however, Austiaj, Hormoz and Khashayar asserted control over their respective trusts. According to Austiaj, Hormoz and Khashayar, Guiv refused to provide an accounting to them of his management of the brokerage accounts associated with their respective trusts. However, they eventually obtained documents relating to those accounts in October 2010. Austiaj, Hormoz and Khashayar claim those documents revealed that $2.4 million had been deposited in each of the three accounts in May 2007, but less than a month later, Guiv had transferred $2.375 million from each account to “an unknown account.” The three siblings subsequently filed a…