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Borrero v. DeAngelis

Appellate Division of the Supreme Court of New York, Second Department
Mar 3, 1997
237 A.D.2d 241 (N.Y. App. Div. 1997)

Opinion

March 3, 1997.

In an action, inter alia, for a judgment declaring the rights of the parties under a partnership agreement, the Plaintiff's appeal, as limited by their brief, from so much of an order of the Supreme Court, Suffolk County (Floyd, J.), dated June 12, 1995, as declared that they were entitled to 17% of the net income of the partnership as of July 1, 1994, and directed an accounting using that percentage.

Before: Bracken, J.P., Santucci, Krausman and McGinity, JJ.


Ordered that the order is affirmed insofar as appealed from, with costs.

In July 1991 the Plaintiff's, Dr. Edgar Borrero and his corporation, Edgar Borrero, M.D., P.C., became partners in the defendant South Shore Surgical Specialists. The partnership was governed by a partnership agreement which granted to a management committee the power to modify its terms by unanimous vote. In June 1994 the management committee unanimously amended the partnership agreement so as to modify the profit-share percentages, inter alia, reducing the Plaintiffs' share. The Plaintiff's commenced the instant action seeking, inter alia, to recover an increased share of the net profits on the ground that the amendment of the partnership agreement by the management committee was improper. We find that the clear, unambiguous language of the partnership agreement authorized the management committee to modify its terms, and that the management committee properly adopted profit-share modifications on June 12, 1994, by the requisite unanimous vote.

The Plaintiffs' remaining contentions are either unpreserved for appellate review or without merit.


Summaries of

Borrero v. DeAngelis

Appellate Division of the Supreme Court of New York, Second Department
Mar 3, 1997
237 A.D.2d 241 (N.Y. App. Div. 1997)
Case details for

Borrero v. DeAngelis

Case Details

Full title:EDGAR BORRERO et al., Appellants, v. VINCENTR. DEANGE LIS et al.…

Court:Appellate Division of the Supreme Court of New York, Second Department

Date published: Mar 3, 1997

Citations

237 A.D.2d 241 (N.Y. App. Div. 1997)
655 N.Y.S.2d 386