McLean, Koehler, Sparks & Hammond v. Schnepfe

RODOWSKY, Judge.

This appeal in general involves the problem of unfunded retirement benefits. In particular it involves the interpretation of the terms, “any unpaid or accrued expenses,” as used in the voluntary withdrawal provisions of a partnership agreement between certified public accountants. The parties disagree over the applicability of the quoted terms to unfunded obligations to pay, monthly, determinable amounts to retired former partners for ten years after retirement. The trial court, sitting nonjury, concluded that those obligations to retired partners were not “expenses” under the…