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Who Changed the Deal

Posted on July 13, 2012 by John Havins Posted in Case Blog, Havins

This dispute was between business partners over how to divide up monies received from the sale of oil and gas leases.  Our client claimed he was owed $1.1M based on his ownership interest in the selling company, but his business partners felt that he had not contributed enough to the project to earn that much of a payday.  Bottom line, the business partners wanted to re-trade the deal and apparently thought they could pressure our client into taking considerably less than they had agreed to pay him.  Our strategy was to file a lawsuit against not only the business partners but also against the escrow agent who would be receiving the funds from the company that bought the leases. We sought a temporary injunction against the escrow agent to prevent the escrow agent from disbursing funds to anyone, including the business partners.  When faced with the possibility that they would not be able to get their hands on any money, our client’s business partners settled within 3 days of the lawsuit being filed for a confidential amount.

Partner Dispute
« It’s Not Personal; It Was Only Business
I Already Knew That »

Tags

Breach of Contract Business Divorce Fiduciary Duty Non-Compete Partner Dispute Trade Secrets Vendor Dispute

Tags

Breach of Contract Business Divorce Fiduciary Duty Non-Compete Partner Dispute Trade Secrets Vendor Dispute

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