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Monday, June 24, 2024 | Back issues
Courthouse News Service Courthouse News Service

Virginia Supreme Court

PARTNERSHIPS, ATTORNEYS - A limited partnership filed an action against one of its partners for legal malpractice and the breach of fiduciary duty, claiming appellant wrongfully withheld funds and sold company assets in the form of real estate below market value.

The Virginia Supreme Court found that the partnership failed to establish justification for tax damages, as such damages were not sustained by the partnership and thus were not recoverable in this derivative suit. Also, the partnership failed to provide an accurate account of withheld funds. Reversed in part. Little v. Cooke

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