A company that owns several rental properties near the University of Iowa’s Kinnick Stadium won’t be dissolved after the Iowa Supreme Court found it’s “reasonably practicable to carry on the company’s activities” despite squabbling among the owners.
Outside Properties LLC can continue to operate profitably because the trial court resolved the major controversies among the owners, the court said.
The company was financed by three brothers—Bryan, Jeff, and Joe Clark—who loaned money a fourth partner, Tracy Barkalow.
After the company acquired additional properties from a third party, a balloon payment came due to the seller of those homes. The Clark ...
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