Original USVI Partnership Statute

New VI Partnership Act

RUPA

5. On or about August 20,2012, United Corporation acting by and through Fathi Yusuf and his son Mike Yusuf, United's shareholder and president, unilaterally and wrongfully converted $2.7 million from segregated Plaza
Extra supermarket accounts used to operate the partnership's three
stores, placing the funds in a separate bank account of United controlled only by United and the Yusuf family.
6. United was on written notice (1) that the funds should not be so removed, and (2) later, that these funds were improperly diverted from the partnership accounts over the objection of Mohammad Hamed.
7. United then used $500,000 of these funds to purchase [the described properties]
8. Since the Propedies were acquired by United with the use of partnership funds improperly removed from the partnership, Hamed is entitled to a
50% interest in these Properties, of which he has given notice to all third
parties by placing a lis pendens against the property, a copy of which is attached as Exhibit A.
9. The plaintiff is entitled to declaratory relief that he owns 50% of these Properties.