Opinion ID: 3012006
Heading Depth: 1
Heading Rank: 2

Heading: On dissolution of the Partnership by the

Text: withdrawal or other act of a Partner, the remaining Partner, on written notice to the other Partner within thirty (30) days of the dissolution, may continue the Partnership business by purchasing the interest of the other Partner in the assets and goodwill of the Partnership. The remaining Partner shall have the option to purchase the interest of the withdrawing Partner by paying to this Partner or the Partner’s personal representative the value of the interest determined as provided in Paragraph 18 of this Agreement. App. at 2:327 (emphasis added). On June 14, 2000, the Bankruptcy Court ruled in favor of Leah, finding that the partnership was dissolved only upon Victor’s death in 1999, and that Leah properly exercised her option to purchase Victor’s interest in the partnership. The Estate filed notices of appeal in both cases with the United States District Court for the Middle District of Pennsylvania. The District Court disagreed with the Bankruptcy Court as to the date of dissolution, finding that any one of the three events cited by the Woskobs was sufficient to cause the dissolution of the partnership in 1997. Accordingly, the District Court held that Leah’s attempt to exercise her option to purchase Victor’s interest 5 in 1999 was untimely and reversed and remanded the two cases to the Bankruptcy Court. Leah now appeals from the decision of the District Court.