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THOMAS J. COWEN v. PETER KRASAS AND PETER KRASAS (10/05/78)

SUPREME COURT OF PENNSYLVANIA


decided: October 5, 1978.

THOMAS J. COWEN
v.
PETER KRASAS AND PETER KRASAS, JR., APPELLANTS

No. 142 January Term, 1977, Appeal from Per Curiam decision of the Superior Court of Pennsylvania dated May 13, 1976 No. 1696 October Term, 1975 affirming the Decree of the Court of Common Pleas, Trial Division, Equity, of Philadelphia County, at No. 2560 March Term, 1966

COUNSEL

Simons, Kashkashian, Kellis & Groen, Arsen Kashkashian, Jr., Philadelphia, for appellants.

Marvin J. Levin, Philadelphia, for appellee.

Eagen, C. J., and O'Brien, Roberts, Pomeroy, Nix, Manderino and Larsen, JJ.

Author: Per Curiam

This is an appeal*fn* from the Superior Court's per curiam affirmance of a lower court award made to appellee in an action for dissolution and accounting of a partnership. After a review of the briefs and record, we find that the lower court erred in determining the value of appellee's interest in the partnership at date of dissolution. See 59 P.S. ยง 104 (1964) (repealed 1975). The lower court found, and the parties do not dispute that the partnership was dissolved on April 6, 1966. However, in determining the value of appellee's partnership interest, the lower court used gross profit figures for the entire year of 1966 (through December 31, 1966). This procedure is inconsistent with the court's finding that the dissolution date was April 6 and has resulted in an overstatement of the value of appellee's interest. Accordingly, the cause is remanded to the lower court for a recalculation of appellee's award.

It is so ordered.

Each party to pay own costs.


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