McFadden v. Baldwin
Steven McFadden; Good Stuff L.L.C. d/b/a Shotgun Betty's, A Nominal Plaintiff; Boom Goes the Dynamite L.L.C. d/b/a Mickey's Irish Pub, A Nominal Plaintiff; Poke the Bear, L.L.C. d/b/a Barcadium, A Nominal Plaintiff; Stat Properties, L.L.C., A Nominal Plaintiff; and BBMG Mills Civic Parkway, L.L.C., Plaintiffs-Appellants
Thomas Baldwin, Anna Mary Margaret Baldwin, and TBJ, LLC, Defendants-Appellees
Attorney for Appellants
John R. Walker, Jr.
Attorney for Appellees
Thomas D. Hanson and Bryan P. O'Neill
Court of Appeals
Court of Appeals Opinion
Opinion Number:
Date Published:
Summary
Appeal from the Iowa District Court for Polk County, Robert A. Hutchinson, David N. May and Arthur E. Gamble, Judges. AFFIRMED. Heard by Tabor, P.J., Bower, J., and Carr, S.J. Gamble, S.J., takes no part. Opinion by Tabor, P.J. (12 pages)
Bar owner Steven McFadden challenges the process approved by the district court for dissolving and liquidating two limited liability companies. OPINION HOLDS: We find no failure by the district court to do equity; substantial evidence supports its rationale for not requiring the Baldwins to assign the Mickey’s Irish Pub lease to McFadden as part of the liquidation. McFadden failed to preserve his claim alleging a breach of fiduciary duty in the Shotgun Betty’s dissolution. Accordingly, we affirm.
