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Corporations Keyed to Rhee
Anglo American Security Funds, L.P. v. S.R. Global International Fund, L.P.
Citation:829 A.2d 143 (Del. Ch. 2003)
The plaintiffs each became limited partners of the Fund. The Fund is obligated to provide the partners with unaudited quarterly reports and an audited annual financial statement as well as information necessary for federal income tax purposes. Limited partners of the Fund are not permitted to assign their interests without written consent of the general partner. Sloane’s capital account in the Fund was credited with $22,350,704, which Sloane subsequently withdrew. The credit to Sloane’s capital account was recorded in the Fund’s audited 1999 financial statement. But, the 1999 Statement did not report Sloane’s withdrawal.
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