Commercial List application concerning removal of a limited partnership's general partner for alleged breaches of fiduciary duty and breaches of the limited partnership agreement.
The court found the general partner entered into related party agreements without limited partner approval, co-mingled partnership funds, and used partnership assets for personal expenses and its own legal fees.
The court upheld special resolutions removing the general partner and appointing a replacement, emphasizing the fiduciary character of the general partner's role and the limited partners' loss of trust and confidence.
A cross-application for relief from forfeiture was dismissed, and ancillary declaratory and accounting relief was granted.
