When will a court order a sale of the assets of a partnership?

Ontario, Canada


The following excerpt is from 2057552 Ontario Inc. v Dick, 2016 ONSC 329 (CanLII):

In Swec v. Biamonte, supra, the court held that on the dissolution of a partnership, the court will not always order a sale of the partnership’s assets. In that case, the partner seeking dissolution was a minority partner and the partnership’s assets consisted of a large and diverse business enterprise. The court ordered the assets of the partnership were to be valued and the value for the interest of each of the partners determined as of the date of the valuation and after an accounting for profits and losses from the ongoing business during the period after the partnership was dissolved, there should be judgment for the plaintiff or for the defendant for the balances so found.

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