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Corporations Keyed to Rhee
Fox v. I-10 Ltd.
Citation:
957 P.2d 1018 (Colo. 1998)Facts
William Fox is a limited partner in I-10 Ltd. Fox purchased 20% of the available limited partnership units in a Colorado limited partnership known as I-10 Ltd. Fox and several other limited partners executed a limited partnership agreement with the general partner, MSP Investment Co. The Partnership found it necessary to amend the Agreement several times. At the recommendation of MSP, all partners, including Fox, first voted to amend article 4.09 to increase potential assessments from 400% to 600% of the original investment. Subsequently, MSP again proposed to amend article 4.09 by increasing the contribution cap to 800%.
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