Bell v. Clark
Indiana Supreme Court
1Opinion of the Court
ON PETITION TO TRANSFER
SULLIVAN, Justice.
This case requires us to rule upon the duty of a lawyer for a limited partnership to the limited partners thereof in certain circumstances.
Background
In late 1983, Gordon Clark hired attorney Richard Bell to form a limited partnership to finance the development of the Riley School Apartments. Clark was the sole general partner of the partnership. In addition to serving as the partnership’s lawyer, Bell was a limited partner, as were a number of his clients and former clients.
In April of 1985, when the Riley School Apartments were approximately 77%…
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