On behalf of Koch & Schmidt posted in Contract Disputes on Thursday, May 19, 2016.
Whether in Louisiana or another state, nothing can bring a halt to business success like a raging disagreement between partners. When a contract dispute arises, all facets of a business may be adversely affected. Most business owners want to resolve such issues in as swift and economically feasible a fashion as possible.
In another state, a stakeholder in a large sandwich chain filed a $9 million claim against business partners. It accuses the two men of inappropriately moving funds from several of the chain’s locations to other business enterprises. The damages for which the plaintiff seeks restitution include breach of fiduciary duty and breach of contract.
The stakeholder has also asserted that a breach of federal racketeering laws has occurred because the others purportedly used the U.S. Postal Service for wire transfer of monies. Accusations against the two partners state that their unlawful business practices are running the company into the ground. The man who filed the lawsuit reportedly owns a 10 percent stake in the company.
There are other extenuating issues being addressed through the recently filed contract dispute claim. Basically, the man who is suing his partners says he has been shortchanged at least $28,000. Louisiana business and commercial law attorneys are used to handling such situations in court and may be considered valuable advocates to those considering filing similar claims. A first logical step to take would be to request a meeting with a business litigation lawyer to discuss the details of a particular situation in order to determine the best course of action to take.
Source: wweek.com, “Lardo Partner Alleges Breach of Contract, Sues for $9 Million“, Matthew Korfhage, May 17, 2016