Case Law Summaries

Arkansas – Authority to File for Bankruptcy

Squire Court Partners LP v. Credit Enhanced Partners LP, No. 4:16CV00935, decided 7/7/17. The U.S. District Court, Eastern District of Arkansas ruled that a general partner lacked the authority to file a petition for bankruptcy on behalf of a limited partnership where the partnership agreement required the consent of the limited partners.  The court rejected the argument that it violated public policy to allow non-fiduciaries to block the right to file for bankruptcy protection.

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