Commercial Contract / General Business

Business Partner Dispute. Plaintiff sued his former partner in a litigation financing business. The complaint included claims for conversion, breach of fiduciary duty and fraud. Plaintiff also alleged Defendant had failed to repay him for a $530,000 loan. The complaint sought judicial foreclosure and a constructive trust. Defendant disputed each of Plaintiff’s factual allegations and argued that no valid legal claims existed. Defendant also asserted that his cross-complaint for breach of fiduciary duty and fraud against Plaintiff entitled Defendant to judgment in the amount of $120,000.

Complex Business Dispute. Multiple parties in which both sides alleging entitlement to compensatory and punitive damages for fraud, fraudulent inducement and breach of contract related to a series of business transactions related to a financing transaction to raise money for a foreign pharmaceuticals manufacturer. Plaintiffs and Defendants both sought attorneys’ fees and asserted the opposing parties’ claims had no merit. Damages claimed were $1,250,000 by one party and $6,050,000 by the other.

Loan Dispute/Civil Extortion. A hospitality management company failed to repay money loaned to the company which was arranged by one of three members. Plaintiff approached Defendant, another member of the borrower company, and Defendant signed a promissory note for $250,000 and wired $100,000 to Plaintiff at that time. Plaintiff sued Defendant for breach of contract and interest. Defendant filed a Cross-Complaint alleging that the agreement was not enforceable because it was obtained by civil extortion. Plaintiff contended that the civil extortion claims were false and two independent witnesses to the conversation would so testify.