Appointment of Liquidating Receiver Reversed Following Interlocutory Appeal
February 27, 2015 in Case Summaries
Just three weeks after hearing oral argument, the Dallas Court of Appeals reversed a trial court order appointing a receiver to liquidate valuable assets of a partnership jointly owned by Levinger PC client Steven Spiritas. The other owner, Susan Davidoff, had asked the trial court to order the receivership, claiming that a deadlock between herself and Spiritas required the partnership assets to be immediately sold. Spiritas secured a stay of the order, and then successfully argued to the court of appeals that the appointment of the receiver was not authorized under the Texas Business Organizations Code because there was no evidence that any irreparable injury was occurring or threatened. Spiritas v. Davidoff, 459 S.W.3d 224 (Tex. App. ‑‑ Dallas 2015, no pet.).
Courts: Texas Intermediate Appellate Courts
Subject Matter: Business Litigation, Oil & Gas/Real Estate