Sharon Gardens Associates, L.P. v. Florescue

Appellant seeks reversal of an order appointing a receiver for Sharon Gardens Associates, L.P., a Delaware limited partnership. We reverse.

Florescue sued the appellant limited partnership, Donald Schupak individually and others, contending inter alia that monies owed to him as repayments of loans he made to the limited partnership and as distributions of profits to him as a limited partner were being wrongfully converted by Schupak to his own personal use. Florescue sought appointment of a receiver for the limited partnership on the grounds that Schupak was collecting monies on behalf of the…