Our clients purchased a local business for several million dollars. The sale documents were not lawyer-drafted and contained many ambiguities. Our clients were facing a scenario where they were left with significant liabilities to pay that belonged to the former ownership and they did not obtain the receivables that they should have.
We analyzed all of the documents and formulated a strategy based on the terms of the documents. We worked with our clients to prepare an accounting of the discrepancies related to liabilities and receivables. We prepared an arbitration demand. After the seller engaged its counsel, we commenced a mediation with the parties. We were able to resolve the dispute with mediation in a manner that allowed all parties to move forward and resolve the dispute.
We approached this matter in a manner that the facts and interests of our client required. In this particular case, long and protracted litigation was not preferred or warranted. The challenges were that the documents that existed were less than ideal and severely impacted the avenues available.
