How have the Respondent Defendants dealt with the Application?

As stated above, the CPI Defendants against whom this application is brought have put forth no evidence to explain or to justify the transactions referred to above. They do argue, however, that the Plaintiffs, as limited partners, have no right to bring this application. Rather, they say, any such application would have to be brought by the limited partnership against the general partner. The Respondent Defendants rely on the rule in Foss v. Harbottle, as further interpreted by certain courts in relation to limited partnership agreements.