Russell Realty Assocs. v. Russell

Nina and her brother Eddie Russell were co-trustees of several family trusts. The trust estate consisted of the interests held by Nina and Eddie as co-trustees in Russell Realty Associates (RRA), which was created by the siblings' father. Nina and Russell disagreed about several matters and conflicts escalated. Eventually, Eddie, individually and as co-trustee, filed a complaint seeking judicial dissolution and winding up of RRA. The circuit court granted Eddie's complaint for dissolution, finding that the economic purpose of RRA was likely to be reasonably frustrated and that the business could no longer practicably operate in conformity with the partnership agreement. The Supreme Court affirmed, holding that there was sufficient evidence to support the circuit court's findings. View "Russell Realty Assocs. v. Russell" on Justia Law