Murphy and Boyd Score Major Victory For Client In ArbitrationAugust 8, 2019 |
Casey Murphy and J’Naia Boyd prevailed in securing an award on behalf of our client in a contentious partnership dispute. The firm’s client had entered into a partnership agreement with his former partner to share profits from various ventures that each had separately launched over several years. The former partner sued Rivkin Radler’s client claiming a breach of the partnership agreement and a right to one half of the economic interest in the profits from certain venture capital funds. On behalf of our client, Rivkin Radler countersued for one half of the interest in the opposing party’s business, raised the defense that the opposing party materially breached the partnership agreement and, therefore, that party was precluded from seeking a remedy under the partnership agreement. The matter proceeded on an expedited schedule, and 30,000 pages of discovery were exchanged and a seven-day hearing was held within four months. A panel of three arbitrators dismissed all claims against our client; precluded the opposing party from any interest in his business while simultaneously awarding our client one half of the economic interest in the opposing party’s business; awarded our client a $930,000 money judgment and; appointed an independent receiver to wind down and dissolve the partnership over the opposing party’s objection.
- Kenneth C. Murphy