SOMERSET LTD. PARTNERSHIP v. Wineberg

MEMORANDUM OPINION AND ORDER

BUCKLO, District Judge.

Julian Wineberg had a limited partnership interest in Somerset Limited Partnership. In 1998, Mr. Wineberg entered into a “Cash Option Agreement” with Hoh-mann OP Holdings, L.L.C., giving Hoh-mann the option to buy Mr. Wineberg’s interest in Somerset for $426,822. Hoh-mann exercised the option on July'l, 1999, but has not paid Mr. Wineberg because it was uncertain about the status of certain tax liens and levies on Mr. Wineberg’s property. The federal government has millions of dollars of tax liens and levies on Mr. Wineberg’s property…