We recognize that Yusuf is not likely to want to sell his shares, since the court adopted the opinion of defendant's expert that the shares had zero value on the stipulated date of valuation. FN5. FN13. On December 15, 2008, the trial court entered an order amending its prior order of June 10, 2008 imposing preliminary restraints. Accordingly, the claim of breach of fiduciary duty falls. By consent order on June 10, 2008, the trial court vacated the temporary restraints and imposed new preliminary restraints delineating the rights and obligations of the parties to manage ASUMA and All Saints, pending trial. The two men resolved, with their collective experience, to establish another medical school in the Caribbean. Under the Operating Agreement, signatures from three persons were required to write a check over $10,000 on each account, but each party had rights to view the accounts. A-2628-09 (App. Final determinations made by the trial court sitting in a non-jury case are subject to a limited and well-established scope of review[. The next day, after Yusuf and Paulpillai had left the office, Chilana asked Silberie to co-sign checks on the Smith Barney account and Silberie agreed. Food expenses also vary depending on individual taste and habit. Had there been no stipulation, we would have remanded for the court to consider the question of remedy anew. FN1. Analytical Chemistry Laboratory 2. Accordingly, per the trial court's January 6, 2010 and April 25, 2016 orders and this opinion, Paulpillai's twenty-six and one-half percent dissociated interest in ASUMA, regardless of whether owned by Paulpillai or Yusuf, is deemed to have been sold to Chilana for zero dollars as a remedy to Chilana for Paulpillai's breaches of his common law fiduciary duties and duty of loyalty and is now owned by Chilana. But no steps have been taken to make that theoretical possibility a reality. Copyright 2023, Thomson Reuters. We have no occasion here to review the reasonableness of the fees charged by Weiner and Glueck, and no orders establishing or approving their terms of compensation have been appealed. Despite their ongoing conflict over check-signing authority on the Smith Barney account, on August 14, 2007, the parties agreed to a new arrangement for the authorized signatures as to the CMB account, which could be any two principals, including the combination of Chilana and Silberie. at 56061. They used MEERC to obtain a charter for such a school from the government of Aruba. 42:2B24(b)(3) for judicial dissociation of plaintiffs from the LLC. The LLC was formed in connection with the operations of a fledgling medical school in Aruba. All Saints University offers three different medical programs for their students. [18], All Saints University School of Medicine was accredited in 2019 by the ACCM (Accreditation Commission of Colleges of Medicine). Features: - Video lectures: Learn & review all relevant concepts faster, easier - Learning Material: Download a PDF of any lecture's slides for. Div. However, the court noted in its opinion that the parties had stipulated to July 31, 2008, as the applicable valuation date. Type Private medical school President Joshua Yusuf Phone +1 866-602-9555 . Yusuf.". Dr. Joshua Demke Professor of Otolaryngology, Dr. Demke joined Texas Tech Physicians in 2009. R. 2:113(e)(1)(E). Having dissociated plaintiffs from the LLC pursuant to the statute, the trial court then attempted to fix an amount representing the fair value of their interests in the LLC. A-2628-09T1 ALL SAINTS UNIVERSITY OF MEDICINE ARUBA; ASUMA LLC; and RICHMOND PAULPILLAI, Plaintiffs, and JOSHUA YUSUF, Plaintiff-Appellant, v. GURMIT SINGH CHILANA, Defendant-Respondent, and PETER SILBERIE, Defendant. But the determination is that based on this record they've converted these moneys to their own purposes, and they have done so in [derogation] of the entity that should have received the moneys. 2023 Copyright UMCAS. Div. 39, 44-45 (App. [9] Citizens of Dominica automatically receive 50% scholarships. ), certif. We also must accord substantial deference to the chancery judge's feel for the case, given the months of pretrial oversight he repeatedly devoted to the matter and his first-hand sense of the trial testimony. In spite of the government's earlier commitment that no more than two such charters would be issued, it granted defendants' request and issued them the third charter in October 2008. The 4-year MD Program, 5-year MD program and lastly the B.S.C Medical Sciences program. They've had plenty of opportunities to show otherwise. Symeonides had been retained by Weiner. Div. FN17. Yusuf does, however, retain the right to do so if he resigns pursuant to N.J.S.A. ] As a result, the parties had the same percentage interests in ASUMA as they did in All Saints. The decision to sell shares must be voluntary. Rather, the member suffers through dissociation the loss of his or her management rights, but is entitled to retain an interest in the LLC as an assignee, preserving the right under N.J.S.A. Co-plaintiff Paulpillai has not participated in the appeal, nor has co-defendant Silberie..FN2. All Saints University School of Medicine is chartered and recognized by the Government of the Commonwealth of Dominica. Specifically, Yusuf and Paulpillai each had 265 shares, and thus, had a combined controlling stake in the LLC; Chilana had 250 shares, and Silberie, 220 shares. Ibid. Two signatories were needed to authorize checks on the CMB account, which could be Silberie and at least one other director or Dean, including Chilana. To the extent that the Chancery judge's rulings in this case implicate equitable principles, we also bear in mind that appellate courts are generally reluctant to interfere with the exercise of judgment by a court of equity. Although Yusuf and Chilana have professional degrees, we refrain, solely for stylistic reasons and without any disrespect, from referring to them as Dr. Every page goes through several hundred of perfecting techniques; in live mode. Thus, the analogy urged by Yusuf is inapt. We invite you to join us to discover an All Saints Education and realize your dreams of becoming a great physician. Chilana. We also note that the parties' respective briefs are inconsistent in their use of the Dr. title for the opposing litigants..FN1. FN10. At one point, Solomon asked Symeonides to revise the projections, and he also inquired into the basis of the calculations for the large items, such as rent, salaries and advertising. of Med. Plaintiffs' counsel elicited testimony from Glueck on cross-examination regarding the income projections prepared by Symeonides. And to the registrar, Dr. Guzin Dincel, thank you for always being a listening ear and for advocating for me when I needed it. Laboratory Medicine Instead, we found that Yusuf had "obtained a windfall we did not intend." This website uses cookies to improve your experience. The trial judge concluded that Solomon's valuation opinion was not such an improper net opinion. All Saints University School of Medicine was founded in April 2006. FN4. Deanna Gallant, Admission OfficerMs. Founded by a group of dedicated medical and business professionals, all of whom had over 20 years of experience in medical education, All Saints University only had 28 new students in April 2006 when they first opened. A member's dissociation from an LLC pursuant to the statute does not cause that member to sell or give up economic rights involuntarily in the LLC. Throughout the stages of the program they work closely with you to guide you on your path to becoming a doctor. Degree with ASU. According to Chilana, he acquired the charter with no intention to start a medical school unless All Saints failed, in which case the students and faculty would need a new medical school. He further contends that the trial judge abused his discretion here in ordering dissociation. All Saints University, College of Medicine, Saint Vincent and the Grenadines is the best Medical school to attend, and it provides you with the opportunity, educational tools and support to succeed in a career in Medicine. FN1. The Operating Agreement further provided that a second bank account would be established in the United States. Yusuf and Dr. 1 Department of Anatomical Sciences, All Saints University School of Medicine, Roseau, Dominica. As for the valuation date used, the court in Denike v. Cupo, 394 N.J.Super. FN16. Sign Up Today! Although the record is suggestive that the immigration problems did indeed continue, this factual finding likewise is not critical to the statutory assessment under subsection 3(c) about whether it was reasonably practicable to carry on the LLC with plaintiffs. We need not resolve here the question of statutory interpretation of what exactly the Legislature intended the term shall to mean within N.J.S.A. All Saints University is a private university in Uganda. All Saints University School of Medicine Dominica Websites About Founded in April 2006 with 28 students, All Saints University Dominica (ASUDOM) now stands with a student body population of. It was not an easy road but their guidance and advice 0 Comments March 24, 2022 Photo Gallery Chilana. We also note that the parties' respective briefs are inconsistent in their use of the Dr. title for the opposing litigants. All Saints University School of Medicine conducts Bachelor of Medical Science Degree programs with three specialty categories. On May 27, 2010, the Aruba Court of First Instance issued a decision on Chilanaa petition. See DeNike v. Cupo, 394 N.J.Super. The trial judge was free, in his discretion, to rely on Solomon's unrebutted expert opinion. 235, 23738 (Sup.Ct.1888), aff'd, 52 N.J.L. Such assignees are entitled to receive distributions and allocation of income, gain, loss, deduction, or credit[. Work on the Warner Expansion is expected to continue in the course of the new year. Id. At some point in July or August 2007, Chilana opened a deposit account (the Citibank account) for the LLC, which Chilana believed was with Yusuf's consent. Weiner contended that the problems with these two particular students was reflective of a more general failure by All Saints to keep accurate student records. This order provided that Chilana shall loan $350,000 to ASUMA to be used by the COO to pay the obligations of ASUMA and All Saints. Our holding is limited to the facts of this rather unusual case. However, on appeal, the parties do not challenge the trial court's finding that the agreement qualified as such under that statute. Div. Our faculty and staff care about your success. Those alleged breaches included the co-signing of checks by Chilana and Silberie in contravention of the Operating Agreement, as well as their actions in obtaining a charter authorizing a third medical school in Aruba. With very few people in the world carrying the MD title, the medical profession is indeed a small group of highly respected and highly qualified humanitarians. PMCID: PMC5949153. This program includes 4 semesters of premedical courses, including those listed above. If Solomon's opinion was deficient in some respects, such as in failing to use a different approach to calculating value, or in not considering intangibles like All Saints's reputation, plaintiffs could have provided their own valuation expert, which they elected not to do. In light of these proofs, we reject Yusuf's claim that Solomon's testimony on valuation comprised improper net opinion. Indeed, by analogy, Solomon's consultations with Symeonides and defendants are comparable to a medical expert properly considering information from a patient about his or her own symptoms and condition..FN18. Chilana also gave Paulpillai, Silberie, and Yusuf a password to view the Smith Barney account online. We offer no comment about the impact, if any, that our exclusive reliance upon subsection 3(c) may have on the Aruba court's May 22, 2010 decision relying upon the Chancery judge's findings of wrongful conduct by plaintiff..FN12. 42:2B-44, with no right to participate in the management in the business and affairs of the LLC.". PAULPILLAI, Plaintiffs, and To the contrary, Solomon explained at length the whys and wherefores underlying his ultimate opinion that All Saints and ASUMA had no positive value. The parties continued to dispute, however, the authorized signatories for the Smith Barney account. The appalling fact is that division ofthe Church into several denominations, and also All Saints University School of Medicine 700 N Sacramento Blvd #311 Chicago, IL 60612 (312) 583-1034 . [6][7] Dr. Terrence Marcelle is currently the Executive Dean of the university. If you disable this cookie, we will not be able to save your preferences. We are mindful that the parties, apparently based upon off-the-record discussions that are not fully explained in the trial transcripts, stipulated to a July 31, 2008 valuation date for plaintiff's shares. Valleywise Behavioral Health Center - Maryvale. Take the first step towards your medical degree with ASU. His argument is that Judge Contillo chose the statutory remedy of dissociation over equitable remedies in 2009, and that we erred in 2015 in remanding the matter to allow the judge to consider the issue of remedy anew. It also contains a more detailed section regarding the effect of a person's dissociation as a member. All rights reserved. at *20. FN9. PETER SILBERIE, Defendant. Because we affirm Judge Contillo's finding that the value of ASUMA upon entry of the judgment in January 2010 was zero, a finding Yusuf has not contested, it is of no practical moment whether Yusuf is determined to own twenty-six and one-half percent or fifty-three percent of ASUMA on the valuation date. Silberie was an authorized signatory only on the CMB account. The final issue raised by Yusuf concerns the trial court's determination that his ownership interest in the LLC had no positive value as of the stipulated date of valuation, July 31, 2008. Esther Monday, MD ( Dominica), Msc (South Wales )(Assistant Professor)Dr. Marie Affana, MD (Dominica), (Assistant Professor),Dr. Daramfon Udofia, MD (Dominica), (Instructor)Dr. Chidambra Halari MBBS (Maharashtra), MSc. Realize your dreams of becoming a great physician at All Saints Dominica; a Great Place to Study and Graduate! All students who wish to receive their diploma must pay a fee of US $500. None of the parties objected to this characterization of All Saints for purposes of the valuation. The five year MD program is designed for high school graduates intending to obtain a MD Degree. It was not an easy road but their guidance and advice, Location Hillsborough Street Roseau, Commonwealth of Dominica. ] N.J.S.A. 42:1A40(b) (noting that after a partner is expelled, the surviving partners may waive dissolution and resume carrying on the partnership as if the dissolution had not occurred). I want to thank the teachers at All Saints University, who helped in getting me to where Im at. Although defendants should have been attentive to the check-signing restrictions in the Operating Agreement, the judge had a reasonable basis to conclude that their inattentiveness to those restrictions was not injurious to the venture and did not occur for personal gain. Although Yusuf and Chilana have professional degrees, we refrain, solely for stylistic reasons and without any disrespect, from referring to them as Dr. Yusuf testified that Chilana's position on the Board did not give him the same authority as the three founding members. Applicants must possess a high school/secondary school diploma or certificate All Saints University holds information seminars throughout the world. 42:2B2. Co-plaintiff Paulpillai has not participated in the appeal, nor has co-defendant Silberie. We decline to second-guess the trial judge's disposition of these issues relating to defendants' own conduct. Aruba, No. _, _ (App.Div.2012) (slip op. of Med. [14] The school is authorized to confer degrees in Doctor of Medicine (MD) upon its graduates, allowing eligible candidates to practice medicine in Dominica and overseas. at 3, 39-48). [W]e do not disturb the factual findings and legal conclusions of the trial judge unless we are convinced that they are so manifestly unsupported by or inconsistent with the competent, relevant and reasonably credible evidence as to offend the interests of justice[. Because plaintiffs persisted in their non-compliance with the court's discovery order, Chilana moved for an adverse inference on May 12, 2009. Solomon also apparently requested to speak with plaintiffs, but he was unable to do so. Admission into the 4-year program requires a Bachelor Degree or completion of at least two years of post secondary education, which must include successful completion of premedical admission requirements such as: Biology - 90 semester hours Chemistry - 90 semester hours Physics - 90 semester hours and one year of Mathematics or Calculus, English and Humanities or Liberal Arts. The Operating Agreement provided that the authorized signatories on the Smith Barney account could include Chilana, plus either Yusuf or Paulpillai, but not Silberie. See Fortugno v. Hudson Manure Company, 51 N.J.Super. The order of final judgment is affirmed, subject to the caveat concerning the sale of plaintiffs' shares discussed in Part III of this opinion. The context here, involving a financial valuation expert relying upon the input of a company accountant and the company's principals, is fundamentally different. This matter returns to us following our most recent remand "for the limited purpose of allowing the trial court to consider anew the remedy for Yusuf's breaches of his fiduciary duties and duty of loyalty, including leave to consider whether Yusuf's wrongful conduct warrants a forced buyout." The Universal Medical College Application Service - UMCAS is a centralized application processing platform that currently participates with medical schools throughout the Caribbean & Europe to facilitate the process of applying to medical schools and to reduce duplication in application processing fees, and resources for the applicants and the institutions. The judge first addressed defendants' formation of the charter for the third medical school: Plaintiffs have failed to prove a breach of fiduciary duty by Chilana. In February 2008, plaintiffs sent a letter to Smith Barney on All Saints letterhead and, relying on their combined majority interest in ASUMA, directed Smith Barney not to honor checks signed only by Chilana and Silberie. For these reasons, to the extent that the trial court's final order might be construed to imply that a sale of Yusuf's shares is compelled, we do not adopt such a construction. at 3. Finally, Silberie owned 220 shares, a twenty-two percent interest. [1] There is also an office in Chicago, Illinois. Contact us. Thus, although affirming Judge Contillo's finding that ASUMA was without value on the stipulated valuation date, we remanded to provide Yusuf the opportunity to withdraw from the stipulation in the event the Chancery judge found Yusuf had entered into it under "a mistaken assumption that dissociation under the statute would compel the dissociated members to tender their shares to the remaining members, regardless of whether they wanted to do so." The enforceability of this agreement is unclear. 2 All Saints University School of Medicine, Roseau, Dominica. The June 2007 directors' meeting ended with persisting conflict between Silberie, on the one hand, and Yusuf and Paulpillai, on the other. Suhas Kotbagi, MD (St. Lucia), MBA (Alagappa), (Associate Professor)Dr. Olha Puzyrenko, MD (Kiev), (Assistant Professor)Dr. Shakeel Ahmed Khan, MBBS, PG Dipl (Karachi), (Associate Professor)Dr. Vanaja Thirukkumaran, MD, (St. Lucia), (Assistant Professor)Dr. Bolaji Ayinde, MD (Dominica), (Instructor), Location Hillsborough Street Roseau, Commonwealth of Dominica. Given this delayed effective date, the change in the statutory scheme has no effect on the issues in the present appeal. We reject these contentions for several reasons. On Friday December 06 th, 2013 the students were officially presented with white coats which signaled their transition from completing the basic medical science phase of their Medical Doctor Degree programme. Student government fee of US$ 150 student government fee is to be paid annually at the beginning of the academic year or semester at US$50 per semester. The Operating Agreement required that [a]ll expenses of [ASUMA] be approved by the directors, and that All Saints's operational expenses must be approved by at least three shareholders / directors. However, at trial Yusuf specifically contested only the issuance of two identified checks: one to Chilana's lawyer, Lazerowitz (which was evidently payment for Lazerowitz's services rendered in forming ASUMA); and another check to Volpo (which Yusuf discovered was a designation for the payment for student clinical rotations). TermsPrivacyDisclaimerCookiesDo Not Sell My Information, Begin typing to search, use arrow keys to navigate, use enter to select, Stay up-to-date with FindLaw's newsletter for legal professionals. The University reserves the right to change any of its policies or regulations at any time. (noting that the LLCA applies to an LLC unless the members agree otherwise in an operating agreement), certif. 42:2B2. 431, 440 (App.Div.) Leagle.com reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions. Joshua Yusuf is the Director and President of the academy and ensures the school is committed to providing high quality education leading to a Doctor of Medicine Degree (MD). He did not use an asset approach because, although All Saints owned $230,000 in assets, the value here is as a going concern, not liquidation, and All Saints was losing money. Solomon also rejected a market value approach, which considers transactions that are similar, because he could not find sufficiently similar transactions. All Saints University School of Medicine grants admission to qualified applicants or students regardless of color, age, race, nationality, religion, gender, sexuality, disability or marital status. Lastly, Yusuf argues that the court erred in accepting the defense expert's opinion that plaintiffs' shares in the LLC had no value. Stay up-to-date with how the law affects your life. To show their continued support and desire to invest in the country, the All Saints University School of Medicine made a donation to the Government of Dominica in the amount of $100,000ECD to help Dominicans with relief efforts. Aruba v. Chilana, No. AUSSOM, the perfect medical college for students with a passion for medicine. An authorization to that effect was signed by all the parties except Silberie. Joshua Yusuf: Dean . We affirmed the judgment dissociating Yusuf, rejecting his appeal. 42:2B24(b) does not use the term dissociation. That provision simply states in relevant part: Shareholder(s) cannot or shall not at anytime [sic] be compelled to give up or sell their shares for any reason. 42:2B24(b)(3) (emphasis added).]. No. You must be logged in to purchase credits. On cross-examination, Solomon acknowledged that his income projections did not include all of the students from All Saints who may have been in limbo, that is, those who hadn't come back yet for their clinical rotation[. 42:2B39 to resign as a member of the LLC and to receive within a reasonable time the fair value of his [LLC] interests as of the date of resignation[. at 440; Union Cnty. He also did not buy or rent property or medical equipment.6, The Order to Show Cause and the Chancery Litigation. Div. In exchange for contributing his services, Silberie received an ownership stake in MEERC, although the record does not indicate what percentage. Weiner, in turn, appointed Theodore Glueck, an executive, as the interim chief operating officer of All Saints and the LLC. Indeed, there is no provision in the final judgment ordering such a tender. 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