Real Estate Investor Wants Bankrupt Partner Ousted

Law360, New York (November 22, 2011, 7:17 PM EST) -- Real estate investor M. Myers Mermel filed a New York state court lawsuit Tuesday alleging that because his partner in real estate venture SBE 48 Management LLC suffered a $100 million bankruptcy, their business contract entitles Mermel to control of the company.

Mermel seeks a declaration that because of his partner Kent Swig's teetering financial condition, management of their company should be transferred to Mermel before more damage can be done to the plaintiff, SBE or a related company.

According to the complaint, Mermel and Swig...
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