Lynch Schwab Obtains Settlement of $467,000 in Commercial Litigation Matter
Louis U. Gasparini (Partner) obtained a settlement in excess of $467,000 in a commercial litigation matter venued in Westchester County. The settlement was effectuated only a few months after the lawsuit was commenced.
Our client, a home heating oil supply company which services the entire downstate New York region had sold to a local distribution company fuel oil amounting to over $400,000. The distributor failed to pay our client for the oil and had made attempts to sell its business.
Our Firm commenced a lawsuit against the distributor and its owners for breach of contract and accounts stated, among others, seeking the full principal owed, finance charges and attorneys fees.
As part of the settlement, the distributor paid the principal owed to our client, finance charges as well as full reimbursement of all attorneys fees incurred in the lawsuit. The owners of the defendant corporation also executed Affidavits of Confession as to the judgment amount.
Posted on March 27, 2012