Ratner v. Iron Stone Real Estate Fund, I, L.P.

The Pennsylvania Superior Court addressed the appointment of a receiver pursuant to 15 Pa.C.S. ยง 8682(d)(2) in a partnership dissolution dispute. There was little dispute about the trial court’s decision to appoint a receiver. That court found a sufficient basis to support the good cause requirement to appoint a receiver because the defendant was dissolving a partnership in a peremptory manner and without input from the plaintiffs. However, the Superior Court found that the trial court abused its discretion when it discharged the receiver. The Court noted that the defendants dissolved the partnership in contravention of the Pennsylvania Revised Uniform Limited Partnership Act. And the Court disagreed with the trial court’s conclusion that the plaintiffs could bring the remaining claims in a new action.

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