EEC Property Co. v. Kaplan

OPINION

LANSING, Judge.

Relying on a finding of waste of partnership assets, an arbitrator awarded money damages to two partners in a six-member partnership and permitted, at the two partners’ election, a mandatory buyout of their partnership interest. On the partnership’s application for vacation under Minn.Stat. § 572.19 (1996), the district court vacated both the damages and the mandated buyout. We reverse and reinstate the award.

FACTS

EEC Property Company is a general partnership of doctors of ophthalmology formed to own and operate a medical office building. Drs. Martin Kaplan and Robert…