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Cri liquidating reit
Because the Court grants the defendants' motion to dismiss on personal jurisdiction grounds, it does not reach the demand question. That situation changed on September 1, 1988, when 6 Del. § 17-109 became effective, and was added to the Delaware Revised Uniform Limited Partnership Act ("DRULPA")[t]he filing in the Office of the Secretary of State of a certificate of limited partnership... Jur.2d Process § 176 (1990) (collecting cases that state that "implied consent" statutes have generally been held not to operate retroactively). Pending is the defendants' motion to dismiss for lack of personal jurisdiction, or, in the alternative, to dismiss Count III of the Complaint for failure to make a demand.
Underwriters for the stock sale will be Merrill Lynch & Co. CRIIMI MAE has granted the underwriters a 30-day option to purchase up to 450,000 additional shares to cover over-allotments.
CRI Liquidating REIT is a finite-life, self-liquidating REIT which owns a portfolio of 73 U. government insured and guaranteed mortgage investments secured by multifamily housing complexes located throughout the United States.
is a company incorporated in Maryland and its company number is d03684453. website aim to provide the most comprehensive data , however this is dependant on the level of information filed in the public domain. website advise our visitors to express caution if in doubt, and to seek professional advice before commencing legal action, based on any information contained herein.
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At the time the plaintiff (which is a limited partner), filed this action in 1997, it did not attempt to effect service of process upon the defendants under Delaware's long-arm statute, but instead effected service under 6 Del. The law, however, is that statutory amendments do not operate retroactively unless the General Assembly explicitly so provides. Ed.2d 683 (1977) (acceptance of a position as a corporate director or officer "does not demonstrate that appellants have `purposely avail(ed themselves) of the privilege of conducting activities within the forum state' in a way that would justify bringing them before a Delaware Tribunal....").7. A "single act" statute is a type of long-arm statute that establishes jurisdiction over nonresidents on the basis of a single act done or transaction engaged in by the nonresident within the state.14.
Section 17-1108 does not constitute an explicit legislative command that all future "alterations" will operate retroactively. Id.; The Supreme Court in Eudaily did not disturb that ruling on appeal.
(NYSE: CFR), yesterday filed a Preliminary Prospectus with the Securities and Exchange Commission (SEC) in connection with the sale of 3 million shares of Liquidating REIT common stock by the company's largest and controlling shareholder, CRI Insured Mortgage Association, Inc., known as CRIIMI MAE (NYSE: CMM).
The 3 million shares being offered for sale represent nearly 15 percent of the Liquidating REIT shares owned by CRIIMI MAE.
EVANS COMPANY, INC., General Partner, William Mc Clure, General Partner and Quintin Mc Mahon, General Partner Defendants, and Santa Clara Village Green Associates limited Partnership, Nominal Defendant. The issue presented is whether § 17-109 can be applied retroactively, with the result that service of process under that statute may be effected upon the defendant general partners in this case. Evans Company, William Mc Clure, and Quintin Mc Mahon (the "defendants") executed a certificate of limited partnership (the "Certificate") for Santa Clara Village Green Associates Limited Partnership, a Delaware limited partnership (the "Partnership"). That fact, the plaintiff argues, is of no significance, because another provision of DRULPA, § 17-1108, states that "[a]ll provisions of this chapter may be altered from time to time or repealed and all rights of partners are subject to this reservation." Therefore, plaintiff concludes, § 17-109 is applicable. First, § 17-1108 is inapplicable because § 17-109 was an entirely new statute, not an "alteration" or amendment to an already existing service of process provision.
Weidinger, of Morris, James, Hitchens & Williams, Wilmington, Delaware, and William F. In this case, the relevant certificate of limited partnership was filed before § 17-109 became effective. § 17-109 did not become effective until September 1, 1988, almost one year after the defendants filed the Certificate.