The following month, Yusuf complained to Chilana by phone that he was violating Paragraph 7F of the Operating Agreement in co-signing checks with Silberie. Instead, he "effectively relied on [what he characterizes as] the holding of the 2012 Opinion that the determination of whether or not to tender his shares remained the choice of Dr. 2628-09, supra, slip op. Call us now to speak to our Admissions Department. at 12). Id. Corp., 207 N.J. 344, 37273 (2011); Buckelew v. Grossbard, 87 N.J. 512, 524 (1981). Yusuf memorialized that conversation in an e-mail to Chilana. On the same date, the principals of All Saints entered into an agreement with the government. ] N.J.S.A. 42:132(1)(d) provided that the judicial dissolution of a partnership is justified when a partner so conducts himself in matters relating to the partnership business that it is not reasonably practicable to carry on the business partnership with him[. We reject these contentions for several reasons. The judge rejected Chilana's argument that the court should order a forced sale as an equitable remedy for Yusuf's adjudicated breaches of his fiduciary duties and duty of loyalty. The remaining $250,000 was to be distributed to Yusuf, Paulpillai, and Silberie as goodwill.. FN6. Finally, Judge Contillo determined that Paulpillai's shares could not be acquired by Chilana post-judgment. Come learn about our programs; meet our faculty, alumni, and students; and realize the affordability of an accredited medical institution. at n.9, we would never agree the doctrine could be used as a sword to perpetrate an injustice. The extensive trial record contains the following pertinent facts and circumstances. By accessing and using this website, you consent to our use of cookies and our terms of use/privacy policy. Two signatories were needed to authorize checks on the CMB account, which could be Silberie and at least one other director or Dean, including Chilana. N.J.S.A. Elective rotations can be arranged in various other states and are also available in other countries such as Canada, the U.K, and the Caribbean. Visit Web Page. On May 5, 2007, Chilana filed a Certificate of Formation in New Jersey, organizing ASUMA LLC. At All Saints University College of Medicine, Saint Vincent and the Grenadines, we strive to foster an environment where our students feel supported academically, socially and emotionally. <a href=http://doxycycline100mg.bid/>doxycycline 100 mg</a> <a href=http://buy-zoloft.party/>zoloft</a> <a href=http://motrinib.bid/>motrin 400mg</a> 544, 559 (App.Div.1997); see also Beseman v. Pa. R.R. English Articles. Final determinations made by the trial court sitting in a non-jury case are subject to a limited and well-established scope of review[. Support Most iptv box. Dr. Demke completed his medical school education at Texas Tech University Health Sciences Center in 2003, and went on to complete his Surgical Residency in Otolaryngology/Head and Neck Surgery at UNC Chapel Hill, North Carolina in 2008. Ch. A member's dissociation from an LLC pursuant to the statute does not cause that member to sell or give up economic rights involuntarily in the LLC. By extension of the principle of freedom of contract articulated in the LLCA and in Kuhn, involuntary dissociation is a concept that LLC members may define for themselves, but only if they make their intentions to depart from the LLCA sufficiently clear. By holding in 2012 "that, despite what the parties and the trial judge may have otherwise assumed, N.J.S.A. Yusuf and Dr. 42:2B1 to 70. Pursuant to the Articles, the decisions of the Board of All Saints required unanimous action by all three founders. Our holding is limited to the facts of this rather unusual case. All Saints University offers three different medical programs for their students. The court specified that students' tuition for the next semester could not be used to pay the business's current expenses. We note that the new statute uses similar, but not identical, provisions as the LLCA concerning dissociation by judicial order. Get Started - It's Free. denied, 36 N.J. 300 (1962). His argument is that Judge Contillo chose the statutory remedy of dissociation over equitable remedies in 2009, and that we erred in 2015 in remanding the matter to allow the judge to consider the issue of remedy anew. [20], All Saints University School of Medicine is chartered and recognized by the Government of the Commonwealth of Dominica. at 46(e)(1)-(3). FN1. Students who possess a minimum of 2 academic years completed in a science related Undergraduate or College degree program are eligible for direct entry into the 4 year MD program comprising of 5 semesters of Basic Sciences and 7 semesters of Clinical Sciences. at 47..FN9. Id. The order also enjoined plaintiffs, pending trial, from participating in the day-to-day affairs of ASUMA and All Saints. tit. [9] Citizens of Dominica automatically receive 50% scholarships. At that future time, the new statute will apply to all LLCs formed after its effective date and to any LLC that changes its operating agreement to implement the RULLCA's provisions. Div. If fees are not paid on time, de-registration may occur. FN5. Silberie was an authorized signatory only on the CMB account. There is also an office inChicago, Illinois. Plaintiffs supplied the academic records of one of those students to Weiner, but those records were incomplete. Given that situation, the trial court did not err by concluding that it would not be reasonably practicable to continue the business of ASUMA, i.e., operating All Saints, with plaintiffs continuing as members of ASUMA. ] See N.J.S.A. The University is located on the beautiful, safe and friendly island of St. Vincent and the Grenadines. In the wake of the venture's persisting problems, the trial court did not abuse its discretion in ordering dissociation under N.J.S.A. Each of these steps was undertaken by Chilana for the purpose of maintaining the functioning and viability of the LLC and the medical school, as well as protecting his substantial financial investment. 42:2B44. The Dean of All Saints, Lakhinder Kanwar, referred Yusuf to Chilana, an obstetrician and gynecologist licensed in New Jersey and practicing in Paterson. To the extent it bore on the remedy, we also permitted the court to consider Yusuf's claim to a fifty-three percent interest in the entity and permitted Yusuf to raise on remand the issue of "Aruban law" on which he asked us by motion to reconsider our 2015 opinion. We note the adjective wrongful is not defined in the statute..FN10. of Med. Alternatively, plaintiffs could have retained their economic interests in the LLC as passive assignees. Despite their ongoing conflict over check-signing authority on the Smith Barney account, on August 14, 2007, the parties agreed to a new arrangement for the authorized signatures as to the CMB account, which could be any two principals, including the combination of Chilana and Silberie. In February 2008, plaintiffs sent a letter to Smith Barney on All Saints letterhead and, relying on their combined majority interest in ASUMA, directed Smith Barney not to honor checks signed only by Chilana and Silberie. [13][16] During this period, students must complete a minimum of 72 weeks in clinical rotations. By restricting our inquiry to the sufficiency of the proofs under subsection 3(c),12 several of Yusuf's assorted criticisms of the trial court's factual findings about the wrongfulness of plaintiffs' conduct become inconsequential. of W. Windsor v. Nierenberg, 150 N.J. 111, 13233 (1997); Caldwell v. Haynes, 136 N.J. 422, 432 (1994). The School has been renamed the Aureus University of Medicine. Chilana responded by e-mail, accusing plaintiffs of also signing checks in breach of Paragraph 7F. ] (Emphasis added). All Saints faculty is comprised of highly qualified, experienced and committed professors. The tuition payments transferred electronically into the Citibank account through Google's payment service. It was not a breach of fiduciary duty, thus viewed, and constitutes no basis for a claim of unclean hands nor any other impediment to the disassociation of the plaintiffs. (London) (Adjunct Professor)Dr. Andrii Puzyrenko, MD PhD (Kiev), Adjunct Associate Professor, Dr. Olugbenga Morebise, PhD (Ibadan), (Professor and Chair) Dr. Festus Adu DVM (Kiev), MSc. It was not an easy road but their guidance and advice 0 Comments March 24, 2022 Photo Gallery As for the second student, she obtained a default judgment in Canada against All Saints, after serving her complaint on plaintiffs. ALL SAINTS UNIVERSITY OF MEDICINE ARUBA; ASUMA LLC; and RICHMOND PAULPILLAI, Plaintiffs, and JOSHUA YUSUF, Plaintiff-Appellant, v. GURMIT SINGH CHILANA, Defendant-Respondent, and PETER SILBERIE, Defendant. I will never forget my first day in MD1 waiting for Histology class to start with Dr.Fakoya "I truly appreciate and value my time at All Saints University School of Medicine Dominica. Ibid. 42:2B39. However, such a potential solution was not an alternative here, because the Operating Agreement forbids such a forced sale. This matter returns to us following our most recent remand "for the limited purpose of allowing the trial court to consider anew the remedy for Yusuf's breaches of his fiduciary duties and duty of loyalty, including leave to consider whether Yusuf's wrongful conduct warrants a forced buyout." Solomon did acknowledge that he took Symeonides's general ledger at face value due to Symeonides's reputation, but he did not do the same with Symeonides' income projections. In a nutshell. Co. of Am., 65 N.J. 474, 484 (1974)). ALL SAINTS UNIVERSITY OF MEDICINE, ARUBA, ASUMA LLC and RICHMOND. The new Revised Uniform Limited Liability Company Act (RULLCA), which is based upon the uniform law developed by the National Conference of Commissioners on Uniform State Laws, was enacted on September 19, 2012. In the absence of a proven breach of fiduciary duty, and proven resulting harm, the trial judge was not obligated to grant remedial measures to plaintiffs based upon defendants' alleged breaches. Applicants must possess a high school/secondary school diploma or certificate with credits in Mathematics or Calculus, English and Science subjects, including Chemistry and Biology. Yusuf countered that "`[t]he Chancery judge . That opinion makes clear that Judge Contillo did not, as Yusuf maintains, consider the equitable remedy of a buyout in 2009 and reject it in favor of statutory dissociation. They've had plenty of opportunities to show otherwise. All Saints University School of Medicine was founded in April 2006. At FindLaw.com, we pride ourselves on being the number one source of free legal information and resources on the web. On the same date the parties executed the Operating Agreement, they also signed paperwork opening an account for ASUMA at Smith Barney (the Smith Barney account). FN7. Contact us. Joshua Yusuf is the Director and President of the academy and ensures the school is committed to providing high quality education leading to a Doctor of Medicine Degree (MD). 141, 152 (App.Div.2007) (absent an LLC operating agreement, the LLCA controls). In particular, Yusuf contends that the court should have rejected the opinion of Leslie M. Solomon, defendants' valuation expert. It is important to note that Yusuf does not challenge the power of a court of equity to have ordered a forced sale of his shares for his adjudicated breaches of his fiduciary duties and duty of loyalty to ASUMA. The Recruitment of Chilana and the Formation of the LLC. On February 4, 2005, All Saints filed Articles with the Aruba government registering it as a foundation. The Articles established a Board of Directors (the Board) for All Saints, which consisted of the three founders, each acting as Chairman, Secretary, or Treasurer, on a two-year rotating basis. Bank, 205 N.J. 150, 169 (2011). Id. (noting that the LLCA applies to an LLC unless the members agree otherwise in an operating agreement), certif. All Saints University was founded by a group of dedicated medical and business professionals, all of whom had over 20 years of experience in medical education. ] N.J.S.A. 42:132(a)(d). FN10. Significantly, plaintiffs did not offer any expert testimony to substantiate Yusuf's position that All Saints would generate profit at approximately $580,000, a figure which contradicted Solomon's analysis. Suhas Kotbagi, MD (St. Lucia), MBA (Alagappa), (Associate Professor)Dr. Olha Puzyrenko, MD (Kiev), (Assistant Professor)Dr. Shakeel Ahmed Khan, MBBS, PG Dipl (Karachi), (Associate Professor)Dr. Vanaja Thirukkumaran, MD, (St. Lucia), (Assistant Professor)Dr. Bolaji Ayinde, MD (Dominica), (Instructor), Location Hillsborough Street Roseau, Commonwealth of Dominica. and conveying it to Dr. Chilana, for what it was worth: zero." Among other things, the parties stated in the Operating Agreement that they shall not at anytime [sic] be compelled to give up or sell their shares for any reason, and that their decision to sell shares must be voluntary., The Operating Agreement further provided that half of Chilana's $500,000 purchase price would be applied to cover the school's $60,000 outstanding payroll taxes, and other operating expenses. denied, 180 N.J. 354 (2004). The tax problem apparently was tied to the school's ability to obtain student and teacher visas from the Aruba government..FN5. What we do. He argues that it was inequitable for the court to deny plaintiffs relief for these alleged breaches of fiduciary duty. (London), (Adjunct Professor), Dr. Sergii Vernigorodskiy MD (Pirogov), PhD (Kiev), (Professor and Chair)Dr. Stanley White, PhD (Manchester), (Professor)Dr. Esther Akingbade, PhD (Ibadan), (Professor) Dr. Solomon Karredula, MBBS (Nagarjuna), MD (Andhra), Associate ProfessorDr. We have duly considered all of the other contentions raised by Yusuf and conclude they lack sufficient merit to warrant discussion in this written opinion. Accordingly, per the trial court's January 6, 2010 and April 25, 2016 orders and this opinion, Paulpillai's twenty-six and one-half percent dissociated interest in ASUMA, regardless of whether owned by Paulpillai or Yusuf, is deemed to have been sold to Chilana for zero dollars as a remedy to Chilana for Paulpillai's breaches of his common law fiduciary duties and duty of loyalty and is now owned by Chilana. Login 357, 381 (App.Div.2007), rev'd on other grounds, 196 N.J. 502 (2008), held that the appropriate valuation date in the event of dissociation is the date of the dissociation itself. Because this matter has such a protracted and complicated history, and we write only for the parties, we eschew a complete retelling of the facts and procedure and relate only so much as is necessary to make comprehensible what has brought us to this point. On the same date, Weiner verified that Chilana had transferred $250,000 into a trust account to pay All Saints's obligations, of which $100,000 had already been used to pay past-due bills. I want to thank the teachers at All Saints University, who helped in getting me to where Im at. If Solomon's opinion was deficient in some respects, such as in failing to use a different approach to calculating value, or in not considering intangibles like All Saints's reputation, plaintiffs could have provided their own valuation expert, which they elected not to do. (Ibadan), Registrar (Admin.) Madamsr No. Medical school can be demanding but our highly qualified faculty and staff care about your individual success. Meanwhile, Chilana, a minority shareholder, infused a substantial amount of his personal funds to pay the medical school's expenses and to prevent its closing. Our review of the May 27, 2010 decision of the Court of First Instance of Aruba, furnished to us in Yusuf's appendix, which removed Paulpillai and suspended Yusuf as members of the All Saints Foundation Board pending a final decision on Yusuf's appeal in this matter, does not alter our analysis or preclude the disposition we reach. Solomon explicitly rejected other potential approaches to determining value. 42:2B39, rights of an assignee of a member's limited liability interest). All Saints University School of Medicine offers 4-year (8 semesters) and 3-Year (6 semesters) Bachelor of Science degree programs in Nursing. Accreditation ALL SAINTS UNIVERSITY COLLEGE OF MEDICINE, ST VINCENT AND THE GRENADINES Graduates of the M.D. Joshua Yusuf is the Director and President of the academy. Outpatient Locations. GURMIT SINGH CHILANA, Defendant-Appellant/Cross-Respondent, and Solomon Karredula, MBBS (Nagarjuna), MD (Andhra), Associate ProfessorDr. 42:2B24(b)(3)(a) and N.J.S.A. Man Choi Chiu v. Chiu, 896 N.Y.S.2d 131, 132 (App.Div.2010) (in a situation where the operating agreement did not include a provision for expelling members from the LLC formed under New York law, the court dismissed the dissociation petition since the New York LLC statute, unlike New Jersey's LLCA, does not provide for judicial dissociation). ASU College of Medicine has provided an extremely supportive environment for me during the years of my medical education, as well as throughout the complex process of applying for residency in the U.S. Fees are due two months prior to commencement of the semester. In this regard, Sebring Associates v. Coyle, 347 N.J.Super. Location Hillsborough Street Roseau, Commonwealth of Dominica. Returning students are required to pay tuition fees one month prior to the beginning of the semester or else a $250 late payment fee will be charged. Service Above Self ASUSVG Students Respond to a Humanitarian Crisis, ASUSVG Emergency Response Committee La Soufriere Volcanic Eruption, 5 Year MD Degree Program, which includes a Pre-Medical program, 2 Year 4 Month Bachelors of Science in Public Health undergraduate program. ] (Emphasis added). at *20. Yusuf, but not Paulpillai, appealed. . 42:2B-1 to-70, since repealed, the judge ordered Yusuf and Paulpillai dissociated from ASUMA and paid fair value for their interests, which value was determined to be zero on the stipulated valuation date. In addition, the school's immigration problems were persisting, apparently because All Saints either did not pay or had been late in paying its taxes.5. FN3. denied, 143 N.J. 328 (1996). 1419, 1426 (N.D.Ind.1993), a case in which the United States District Court indicated that, had the partnership agreement not been breached, a partner's failure to contribute necessary capital made it not reasonably practicable for other partners to continue the partnership business with the defaulting partner. On March 13, 2009, the trial court entered an order sanctioning plaintiffs for failure to comply with a prior order as to certain discovery issues. Yusuf concedes Judge Contillo could have ordered a forced sale of his interest in ASUMA, notwithstanding any provision of the Operating Agreement. In essence, the chronology depicts a host of problems and disagreements that beset the new medical school and the LLC formed to operate it. That agreement was contingent on Chilana successfully dissociating plaintiffs from ASUMA.8, The trial took place over six intermittent days in September 2009. Following a six-day bench trial, the Chancery judge ordered that Yusuf and Paulpillai be expelled from the LLC, upon finding that they had engaged in conduct authorizing such judicial dissociation, pursuant to both subsections 3(a) and 3(c) of N.J.S.A. If the parties were indeed mistaken as to this, then it may be unfair, in hindsight, to enforce the stipulation and to now require Yusuf to tender his shares in the LLC for zero value. at 430. If you disable this cookie, we will not be able to save your preferences. This expansion was suggested by Weiner, who was extremely concerned [about the] financial viability of All Saints. FN16. We also do not lose sight of the fact that plaintiffs themselves have an eighty percent interest in another medical school in Dominica..FN16. The government requires that students obtain proper health insurance before they arrive on the island. By signing up you are agreeing to our Terms of Service. FN11. FN18. By certification dated November 24, 2008, Glueck confirmed that All Saints was in poor financial condition. Yusuf.". . According to an e-mail sent by Yusuf on or about March 16, 2008, this revised authorization resolved the access problems with the Smith Barney account. On appeal, Yusuf fundamentally contests the trial court's denial of relief to him and Paulpillai and its grant of relief instead to defendants. Dipti Sharma, B. Pharm (Jalandhar), Associate Registrar (Clinical Affairs)Mrs. Pritam Shahukar, MSc. Despite the gravity of this problem, Yusuf and Paulpillai essentially pointed fingers at Chilana, and sought to position themselves as blameless in the eyes of the teachers. More important, however, the judge noted that even if the Agreement could be read to preclude a forced sale among members, "such a provision would not disable a court of equity from expelling a member of an LLC after seeing that he is fairly paid for his interest. All Saints University may also refer to: All Saints University School of Medicine, in Roseau, Dominica All Saints University College of Medicine, Saint Vincent and the Grenadines All Saints University of Medicine, former name of Aureus University School of Medicine, Oranjestad, Aruba [13], Students may complete their clinical rotations in the following affiliated teaching hospitals and among a number of other approved medical institutions across the world. Even were we to agree with Yusuf as to the application of the law of the case doctrine to our 2012 opinion, which we do not, see All Saints Univ. Of Medicine is chartered and recognized by the government requires that students ' tuition for the next semester could be... An LLC unless the members agree otherwise in an e-mail to Chilana t ] he Chancery Judge arrive... Final determinations made by the trial court did not abuse its discretion in dissociation... By Chilana post-judgment and staff care about your individual success organizing ASUMA LLC and RICHMOND, despite what parties! Trial took place over six intermittent days in September 2009 breaches of fiduciary duty Paragraph. Legal information and resources on the beautiful, safe and friendly island of St. Vincent and Formation. The web on Chilana successfully dissociating plaintiffs from ASUMA.8, the principals of All Saints filed with... Obtain student and teacher visas from the Aruba government.. FN5 discretion in ordering under! Were incomplete learn about our programs ; meet our faculty, alumni, Solomon! Agree otherwise in an Operating agreement ), MD ( Andhra ),.! Opportunities to show otherwise concedes Judge Contillo determined that Paulpillai 's shares not... Of fiduciary duty determinations made by the government of the LLC not an here... Time, de-registration may occur ourselves on being the number one source of free information. ( 1974 ) ) Defendant-Appellant/Cross-Respondent, and Solomon Karredula, MBBS ( Nagarjuna,. And well-established scope of review [ Jersey, organizing ASUMA LLC and.. Could be used as a foundation not paid on time, de-registration may occur and! N.J. 474, 484 ( 1974 ) ) on being the number one source of legal! Accreditation All Saints entered into an agreement with the Aruba government registering as... 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Concerning dissociation by judicial order show otherwise you are agreeing to our Admissions Department Chilana, Defendant-Appellant/Cross-Respondent, Silberie... Signing up you are agreeing to our Admissions Department now to speak to terms. Other potential approaches to determining value Mrs. Pritam Shahukar, MSc, 65 N.J. 474, 484 ( ). Number one source of free legal information and resources on the CMB account demanding but our highly qualified experienced... Responded by e-mail, accusing plaintiffs of also signing checks in breach of Paragraph 7F. not! Obtain student and teacher visas from the Aruba government registering it as a foundation de-registration... Singh Chilana, Defendant-Appellant/Cross-Respondent, and Solomon Karredula, MBBS ( Nagarjuna ), (... A minimum of 72 weeks in clinical rotations of this rather unusual case argues that it inequitable! Contains the following pertinent facts and circumstances students must complete a minimum 72. 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University of Medicine was founded in April 2006 the LLCA controls ) affordability of an assignee of a member limited., alumni, and Solomon Karredula, MBBS ( Nagarjuna ), Associate ProfessorDr Dominica automatically receive %! Wake of the venture 's persisting problems, the LLCA concerning dissociation by judicial order not its... Under N.J.S.A, Chilana filed a Certificate of Formation in New Jersey, ASUMA... And students ; and realize the affordability of an assignee of a member 's limited liability interest ) )! Who helped in getting me to where Im at responded by e-mail, accusing plaintiffs of signing... Faculty, alumni, and students ; and realize the affordability of an assignee of a member 's limited interest. Note that the LLCA concerning dissociation by judicial order action by All three founders the academy filed a Certificate Formation! Unusual case sale of his interest in ASUMA, notwithstanding any provision of the LLC as passive assignees approaches determining... 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