Minority Interest in a Dissolved General Partnership that Continues Operations Should be Valued on a Going Concern Basis

On December 22, 2004, in Anastos v. Sable, the Massachusetts Supreme Judicial Court considered the issue of the appropriate method for valuing a minority interest in a general partnership when the minority member caused a statutory dissulotion of the partnership in violation of the partnership agreement and the remaining partners elected to continue to operate the partnership. The court held that the partnership should be valued on a "going concern" basis.