Litigation partner Kevin Abbott recently received an outstanding result for a client in a binding arbitration.
In this case, our client had entered into a shareholder agreement in connection with purchasing a share of a financial advisory practice. The majority shareholder later changed his mind, refused to operate the practice with our client, and dissolved the corporation, which was worth millions of dollars. To add insult to injury, the majority shareholder tried to capture as much of the existing clients as possible in the wake of the dissolution.
During a grueling 5-day arbitration, our client and the majority shareholder, as well as other employees and pertinent witnesses, testified concerning the agreement and the operation of the business. Opposing experts testified concerning the value of the company and the loss to our client. At the conclusion of the arbitration, a three-arbitrator panel issued its decision, agreeing that the majority shareholder had breached the agreement and awarding an excess of $1,000,000 to our client along with his attorney fees and arbitration costs.
This fantastic outcome was the result of careful strategy, retaining effective experts, and asking witnesses the right questions. Mr. Abbott, along with all Lobb & Plewe attorneys, work closely with their clients to create the best possible outcome for each individual legal need.