Only six months into a complex partnership dispute, the Business Court of Texas, 1st Division, has issued a comprehensive summary judgment opinion and order. This pivotal ruling addresses the enforcement of drag-along rights and the fiduciary duties of loyalty and care among partners in a limited partnership. In its analysis, the court referenced EGAN ON ENTITIES 467 (4th Ed. 2023) by Jackson Walker partner Byron Egan, a leading treatise on Texas business law, to clarify the statutory responsibilities of limited partnership managing partners. The case will proceed with further briefing on the remaining derivative liability theories. This ruling serves as a critical reminder for partners in limited partnerships to ensure their agreements comply with fiduciary duty requirements. For more insights, read the full article by Chris Bankler: https://lnkd.in/gnJgEyK5 #BusinessLaw #CorporateGovernance #FiduciaryDuties #TexasBusinessCourt #LegalUpdate
