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LEGAL PROCEEDINGS
3 Months Ended
Mar. 31, 2013
LEGAL PROCEEDINGS  
LEGAL PROCEEDINGS

(16)  LEGAL PROCEEDINGS

 

On March 21, 2012, Kaiwiki Orchards, LLC, as the lessor of macadamia orchards consisting of 636 gross acres (326 tree acres) leased to the Partnership, filed a Complaint in the Circuit Court of the Third Circuit, State of Hawaii seeking a declaratory judgment that the Partnership has breached the terms of the lease for failing, inter alia, to exercise “good husbandry” and permitting waste in its agricultural practices on the leased land and that the lease may be terminated by the lessor and seeking damages in an amount to be proven at trial.

 

The plaintiff has given the Partnership an open ended extension of the time to file a responsive pleading pending the results of settlement discussions between the parties. The Partnership produced approximately 900,000 field pounds of macadamia nuts from these leased orchards during 2012.