|
 |
Contact:
Michael R. Coston
Director of Marketing and Public Relations
Forchelli, Curto, Schwartz, Mineo, Carlino & Cohn, LLP
Phone: 516-248-1700
Email: mcoston@forchellilaw.com
Partner Russell
G. Tisman’s Legal Victory Featured in the New York
Law Journal
Forum Selection Clause in Parties’ Agreement Grants
Defendants Dismissal of New York Action, 1/18/07
Mineola, January 02, 2007 — Russell G. Tisman, a partner
in our Litigation Department, has recently granted dismissal
of a lawsuit pending in New York Supreme Court which sought
to recover damages for breach of a share purchase agreement,
and to obtain the appointment of a receiver to preserve
the assets of the insurance agency whose shares were involved.
The legal victory was featured in the latest issue of The
New York Law Journal.
In the case of Karol v. Nihonbashi Partners, Inc., our client,
Nihonbashi Partners, Inc, acquired the plaintiff’s
50% stock interest in a distressed insurance agency facing
solvency issues and regulatory action pursuant to a share
purchase agreement. The agreement, and other related agreements,
each contained a choice of forum provision designating the
courts of the State of Connecticut, where our client is
based, as the exclusive venue for lawsuit. After acquiring
the stock, our client discovered that the selling shareholder
breached various agreements, representations and warranties.
The selling shareholder sued in Suffolk County, where he
resides. The Court dismissed the lawsuit holding that the
choice of forum provision was enforceable and plaintiff
could not pursue his claims in New York’s courts.
This dismissal facilitated the successful resale of the
business.
Russell G. Tisman specializes in complex corporate, commercial,
defense, employment, labor and Surrogate's Court litigation.
He has tried cases and argued appeals in Federal and State
courts and administrative agencies throughout the United
States, and in arbitration and other alternate dispute resolution
fora. Mr. Tisman also actively counsels management and human
resource professionals on employment and labor matters.
He represents public companies, privately held businesses,
insurers, financial institutions and individuals.
For more information on Karol v. Nihonbashi Partners, Inc,
please pick up the latest issue of The New York Law Journal
or visit them online at www.law.com/ny.
«
Back to Announcements Index
|
|
|
