Ex-Nelson Levine Chair Battles Ex-Partners Over Firm Breakup
The ex-chairman of the now dissolved Pennsylvania-based firm Nelson Brown & Co., formerly known as Nelson Levine de Luca & Hamilton, wants to take his former partners to arbitration. For what exactly is still unclear.
September 26, 2017 at 04:16 PM
4 minute read
The ex-chairman of the now dissolved Pennsylvania-based firm Nelson Brown & Co., formerly known as Nelson Levine de Luca & Hamilton, wants to take his former partners to arbitration. For what exactly is still unclear.
Michael Nelson, now a partner at Eversheds Sutherland in New York, sued his former partners in July seeking to arbitrate claims arising from the dissolution and liquidation of the firm, the duty to contribute capital, the allocation of profit and loss, withdrawal of shareholders and duty to indemnify. All of the matters stem from the former partners' operating agreement and buy-sell agreement, according to a bare-bones complaint filed in U.S. district court in Philadelphia.
But the eight defendants want more information, as evidenced by a series of answers and dismissal papers filed this month.
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