What is the priority of the distribution of birated


Birated Products Exports, L.P., is a limited partnership, with $235,000 in declared but unpaid profits. Birated Products’s creditors include Garner Credit Inc. for $5,000 and Sarah, one of Birated Products’s limited partners, also for $5,000. When Bill, one of Birated Products’s general partners, decides to retire, the other general partners vote to liquidate and dissolve the firm. The limited partners, who are not asked their opinions, want Birated Products to continue in business and file a suit against the general partners to compel this result. Can the court order Birated Products to continue? If not, what is the priority of the distribution of Birated Products’s assets on its dissolution?

Request for Solution File

Ask an Expert for Answer!!
HR Management: What is the priority of the distribution of birated
Reference No:- TGS02586911

Expected delivery within 24 Hours