Satterlee Stephens LLP Defeats Motion to Dismiss in Limited Partnership Dispute


On July 13, 2017, the New York State Supreme Court issued a written decision denying a motion to dismiss claims for breach of a limited partnership agreement and fiduciary duty brought by Satterlee Stephens’ client, C. Richard Stafford, who is a limited partner of SC Captial (P) LLP.  The complaint alleges that the general partner wrongfully delayed the liquidation of the partnership for more than two years in an attempt to inflate the general partner's carried interest by more than $9 million to the detriment of the limited partners.  Satterlee Partners Walter Saurack and Charles Keeley  are representing the firm’s client in the litigation.