Cider Mills, a limited partnership, was continued after the dissolution date for purposes of winding up. The

Question:

Cider Mills, a limited was continued after the dissolution date for purposes of winding up. The had entered into a contract for the sale of land three months prior to its dissolution date. The property was sold after the dissolution date. The parties disagreed as to the order in which payments would be made following the dissolution of the The limited partners argued that they should share in the profits from the sale. The court determined that the order of payment should be creditors, limited partners, general partners. Anthony Pappas, a limited partner, objected to the court's decision regarding the of assets. Do you think the court's decision was reversed on appeal? Why or why not?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most... Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...