California Motion for Appointment of Special Master Receiver to Dissolve Partnership, Dispose of Assets and Settle all Affairs as to Assets and Liabilities

State:
Multi-State
Control #:
US-MOT-01401
Format:
Word; 
Rich Text
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Description

Defendant/Counter-Plaintiff files a motion for the appointment of a special master/receiver for the purpose of the dissolution of the partnership, disposition of assets, payment of liabilities, and settlement of partnership affairs. Since the dissolution, plaintiff/counter-defendant and defendant/counter-plaintiff had been unable to agree on the disposition of the partnership assets, liabilities, and settlement of its affairs.
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  • Preview Motion for Appointment of Special Master Receiver to Dissolve Partnership, Dispose of Assets and Settle all Affairs as to Assets and Liabilities
  • Preview Motion for Appointment of Special Master Receiver to Dissolve Partnership, Dispose of Assets and Settle all Affairs as to Assets and Liabilities
  • Preview Motion for Appointment of Special Master Receiver to Dissolve Partnership, Dispose of Assets and Settle all Affairs as to Assets and Liabilities

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FAQ

In California, the partnership must file a Statement of Dissolution with the Secretary of State. The partnership is then responsible for distributing or liquidating the partnership assets. It must also inform all known creditors, vendors, suppliers, and customers that the partnership is being dissolved.

A partnership firm may be discontinued or dissolved in any of the following ways. Dissolution by Agreement. The easiest and the most hassle-free method to dissolve a partnership firm is by mutual consent or an agreement. ... Dissolution by Notice. ... Dissolution due to contingencies. ... Compulsory Dissolution. ... Dissolution by Court.

The process of dissolving your partnership Discuss terms and issues. ... Draft a dissolution agreement. ... Double-check the terms. ... Check your state's business laws. ... File a statement of dissolution with your state. ... Notify all of your customers, clients and suppliers directly. ... Divide remaining assets.

There can be several reasons for the dissolution of a partnership, which are mentioned below: Death of a partner. Admission of a new partner. Insolvency of an existing partner. Early retirement of a partner. Due to expiry of a partnership period after a certain time as mutually agreed upon by all partners.

Dissolving a partnership firm means discontinuing the business under the name of the said partnership firm. In this case, all liabilities are finally settled by selling off assets or transferring them to a particular partner, settling all accounts that existed with the partnership firm.

5 steps to dissolve a partnership. Dissolving a partnership includes reviewing your agreement, discussing the situation with your partner, preparing dissolution papers, closing accounts, and then communicating the change to relevant parties.

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California Motion for Appointment of Special Master Receiver to Dissolve Partnership, Dispose of Assets and Settle all Affairs as to Assets and Liabilities