O’Connor v. Parille CA2/1
Thomas O’Connor and Kelli Parille, the beneficiaries of a family trust, agreed to divide the proceeds from a transaction disposing of the trust’s interest in a restaurant business. The agreement called for them to divide the proceeds equally, up to a certain amount, with Parille receiving any proceeds exceeding that amount. Ultimately the business was sold in a transaction that valued three distinct business assets. The proceeds exceeded the threshold amount, leading to a dispute over which of the component assets were included in the parties’ agreement. The trustee proposed to distribute the proceeds from all three assets, in effect divesting O’Connor of half of the value of the third asset. O’Connor objected to the distribution, and Parille moved to enforce it pursuant to Code of Civil Procedure section 664.6. The trial court granted the motion, and O’Connor appeals.
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