When Real Estate Partners Collide

A general partner in a real estate partnership sought our help. His limited partners obtained a restraining order to temporarily stop the sale of partnership condominiums to raise funds to pay $2.5 million in partnership debts, some of which were owed to the general partner. The limited partners then sought a preliminary injunction to prevent the sale of the condominiums, arguing that the agreement and the law forbade the sales and that the sales were irregular. We prepared a thorough analysis of the partnership contract, the Illinois Partnership Act, and a full explanation of the transactions from the relevant witnesses during three days of trial, after which the Court refused to prohibit the sales.

To learn about similar services we offer visit our practice areas page.  Patterson Law Firm takes a variety of cases. If you have a case similar to the one above or in one of our other practice areas, contact us at (312) 223-1699 or click here.

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