Fretz

Fretz v. Burke

Good Law
1967 Cal. App. LEXIS 1731·247 Cal. App. 2d 741·55 Cal. Rptr. 879
Court of Appeal of CaliforniaJanuary 17, 1967Civ. 23297California2,159 words

Opinion

Opinion

Devine, J.

Plaintiffs obtained a preliminary injunction requiring defendants Jack P. Burke and The Fundamental Oil Corporation to pay their respective shares of profits of Mountain View Oil Company, a corporation, and defendants appeal; but $5,000 of the total amount was ordered retained in trust for plaintiffs, and this part of the order is appealed by plaintiffs.

The facts are before us in a settled statement. Plaintiffs are limited partners and defendant Burke is the sole general partner of Mountain View Oil Company. The company is operated by The Fundamental Oil Corporation under a management contract. This corporation is wholly owned by Burke. Plaintiffs seek dissolution of the partnership, alleging acts of breach of fiduciary relationship by Burke. They ask that Fundamental be enjoined from operating Mountain View, they demand damages, and they pray for other relief.

In their answer, Burke and Fundamental allege that the present action was part of a scheme of harassment to force Burke to purchase plaintiffs’ interests; that the partnership is operating at a handsome profit and that a sale of it or its assets would be exceedingly detrimental to the interests of all concerned; that the…

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