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Ederer v. Gursky | 881 N.E.2d 204 (2007)
A major benefit of registering a business as a limited liability partnership is that the partnership is a separate legal entity from the partners. This means that the partners aren’t personally liable for partnership debts and can’t be forced to pay partnership debts with their personal property or assets. But what happens when the partnership owes a debt to one of its own partners? The case of Ederer versus Gursky addressed the limits of limited liability.
Louis Ederer was a partner at the law firm of Gursky and Ederer. The firm was registered as a limited liability partnership, but there was no written partnership agreement. During his time at the firm, Ederer made a personal loan to the business that the partnership agreed to repay. When Ederer decided to leave the firm, he entered into a withdrawal agreement that promised him a specific level of compensation until his departure. After Ederer left the firm, he sued the partnership and its partners for breach of contract relating to funds he was owed under the withdrawal agreement and the personal loan debt.
The individual partners moved to dismiss the lawsuit, arguing that limited liability partnerships shield individual partners from personal liability for the partnership’s debts. The trial court rejected this argument and denied the motion to dismiss. The appellate division affirmed, and the partners appealed.
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