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K.C. Properties, Inc. v. Lowell Investment Partners, LLC

280 S.W.3d 1 (2008)

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K.C. Properties, Inc. v. Lowell Investment Partners, LLC

Arkansas Supreme Court
280 S.W.3d 1 (2008)

  • Written by Robert Cane, JD

Facts

K.C. Properties, Inc. (KC) (plaintiff) and Lowell Investment Partners, LLC (Lowell) (defendant) were members of Ozark Mountain Water Park, LLC (Ozark). Pinnacle Management Services, LLC (Pinnacle Management) (defendant) was the manager of Ozark but not a member of Ozark’s LLC. Pinnacle Hills Realty, LLC (Pinnacle Realty) owned a tract of land that it intended to sell to Ozark for construction of a water park. However, Pinnacle Realty eventually sold the land to a third party. Pinnacle Management and Pinnacle Realty comprised the same members. Ozark filed suit for breach of fiduciary duties by Pinnacle Management and Lowell.

Rule of Law

Issue

Holding and Reasoning (Gunter, J.)

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