Fredricks Peebles & Morgan, LLP v. Assam

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Fredricks Peebles & Morgan, LLP v. Assam

Case Number
S-16-0855
Call Date
December 8, 2017
Case Time
9:00 AM
Court Number
Douglas
Case Location
Lincoln
Case Summary

S-16-0855, Fredericks Peebles & Morgan LLP v. Fred Assam (Appellant)

Douglas County District Court, Hon. Shelly R. Stratman

Attorneys:  David A. Domina (Domina Law Group) for the Appellant; Daniel P. Chesire, Brian J. Brislen, Cathy S. Trent-Vilim (Lamson, Dugan, and Murray, LLP) and James J. Banks (Banks & Watson) for Appellee.

Civil:  Valuation of disassociating partner’s interest in Fredericks Peebles &     Morgan LLP (FPM)

Proceedings below:     The court issued a declaratory judgment that Assam was entitled to $590,000 for his equity interest in Fredericks Peebles & Morgan LLP (FPM). The court found that FPM did not breach the Restated Limited Liability Partnership Agreement and dismissed Assam’s counterclaim.  

Issue:  Assam assigns the court erred in finding that: (1) Nebraska law controlled; (2) FPM did not breach the Agreement; (3) approximately $10 million in accounts receivable and all real estate equity should have been excluded from FPM’s valuation; (4) FPM’s valuation should include discounts and exclude certain partnership assets when determining the fair market value of Assam’s interest; and (5) Assam was not entitled to attorney’s fees.

 

Schedule Code
SC