Wednesday, October 24, 2007

Not A Partner

The New York Appellate Division for the First Judicial Department affirmed the dismissal of a complaint brought by an attorney who had been terminated from a law firm. The complaint sought, among other things, an accounting, a determination of interest in the firm and damages for breach of contract. Although the plaintiff was called a partner, "he was never a true equity member of the firm...he received distributions of net profits from the firm at a fixed rate, he was not responsible for the firm's rent or losses, was not a signatory of the partnership and/or operating agreement, made no capital investment and had no ownership interest in the firm." Causes of action predicated on purported promises to make the plaintiff  a full partner were "properly dismissed as barred by the statute of frauds." (Mike Frisch)

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