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IN THE CHANCERY COURT OF COUNTY, MISSISSIPPI
, PLAINTIFF(S) vs. NO.
, DEFENDANT(S) AMENDED COMPLAINT
, and Plaintiffs, by their attorneys, file this suit against and
would show as follows:
1. The Defendant is a Mississippi corporation which may be served with process of
this Court by serving its agent for process, , , , . The principal
place of business of said Defendant is in County, Mississippi.
2. The Plaintiffs are all adult resident citizens of Mississippi; and in , ,
and were all partners in one or more of , and ("the
Partnerships"), all general partnerships which were engaged in the equipment leasing business. A
schedule of each Plaintiff’s ownership in each partnership is attached as Exhibit . During
said time, Defendant, , was the agent for the partnerships to collect equipme nt rentals and
pay said rent to said Plaintiffs and did, in fact, collect large amounts of money for t he benefit of
the Partnership.
3. Defendant, when it collected the equipment rentals due to the Partnerships, held
said funds as a constructive trustee for the Partnerships, and was under a duty to use said funds
solely for the benefit of the Partnerships and not for its own personal benefit.
4. During the period from , , through , , Defendant had on
hand the following amounts of Partnership funds:
/ / $
/ / $
/ / $
5. Rather than investing said proceeds for the benefit of the partnership, the
Defendant applied said rental income to its own corporate debts which during said peri od of time
bore interest at the prime rate, which was an average rate of at least percent. To allow the
Defendant to retain the benefit of applying the funds it held as constructive trustee for the benefit
of the Partnerships would constitute unjust enrichment.
6. In addition to its duty to use the proceeds solely for the benefit of the Plaintiffs,
the Defendant has a duty to account to Plaintiffs for dates said funds were received. If Defe ndant
fails or refuses to provide to Plaintiffs an accurate and detailed accounting of when sai d rental
income was received, the Defendant should be required to account and pay to the Plainti ffs their
proportionate share of the funds so applied for the benefit of the Defendant, based on an average
balance for the 12 months from each year until the date they were actually disbursed to Plaintiffs.
By applying the average interest rate to the average balance, the amount of eac h Plaintiff’s pro
rata share in this sum would be as follows:
$
$
$
$
$
7. Said Partnerships have now been liquidated, and the Plaintiffs, as partners, are
now, by operation of law, owners of their pro rata share of the partnership assets. Therefore, each
of the Plaintiffs owns his pro rata share of the assets of each partnership, which assets include the
claims against Defendant for interest on the partnership funds accruing while in the hands of t he
Defendant.
Wherefore, Plaintiffs demand judgments against the Defendant as follows:
a. That Defendant be ordered to account to the Plaintiffs for all of the funds received
by the said Partnerships which were retained by said Partnerships and applied on the debt of
Defendant and pay to each Plaintiff his pro rata share of the interest the Defendant sa ved by this
wrongful use of the Partnership funds; or, in the alternative,
b. That Defendant be ordered to pay to Plaintiffs the following:
c. Interest on the amount due, as provided by law.
d. General relief. Respectfully submitted, _______________________________________
Attorney for
Of Counsel:
Telephone:
MSB #
Attorney for
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