Successful Outcome for Clients Over Investment Funds Dispute
Burkhalter Law is pleased to announce a successful outcome obtained in favor of one of a non-profit client after initiation of litigation to recover over $2.5M owed as the result of an investment transaction. The litigation involved a dispute stemming from our client’s exercise of a contractual put option to obtain the return of its investment plus interest, which the other contracting parties then failed to pay.
After more than a year of trying to resolve the payment dispute through an amicable resolution, our client ultimately had to file a lawsuit against the two corporate entities on the other side to enforce its rights and recover the amounts owed. The international location of one of the defendants presented a procedural complication, but we were able to effect service and pursue claims in a Virginia state court due to a forum selection clause in the parties’ contract.
Our firm successfully obtained a judgment for the full amount of unpaid compensatory damages sought along with prejudgment interest and an award of attorneys’ fees and expenses, based in large part on the lack of any viable defenses for failing to pay the amounts owed. Within days of obtaining the judgment, our client received full payment of the judgment amount.
Unfortunately, disputes may require litigation to compel other parties to comply with their contractual obligations. In this instance, we were successful in achieving a successful result for our client at an early stage of the case, while also recovering the attorneys’ fees and expenses incurred by our client in reaching the result.
Congratulations to our team for their hard work in representing our client’s interests and obtaining a successful outcome at an early stage of litigation.
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