Question: Actor Kevin Costner was a 9 0 % limited partner in a restaurant in Summerland. As part of this limited partnership ( LP ) ,
Actor Kevin Costner was a limited partner in a restaurant in Summerland. As part of
this limited partnership LP the restaurant owned a parcel of property. The other two
limited partners who owned the remaining in the limited partnership sued Costner to
dissolve the partnership and sell the property. Can the two limited partners force Costner
to sell the property?
No because the partnership owns the property, not the individual partners
Yes, because there are two limited partners who want to dissolve the partnership, giving them a
majority of the voting interests in the LP
Yes, because the limited partners can claim they are being oppressed by the majority owner
No because Costner is the majority owner of the partnership
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