Gustafson Nicolai pc Achieves Favorable Settlement of Breach of Contract/Fraud Business Dispute
Recently Gustafson Nicolai pc resolved a breach of contract and fraud case against three of the four defendants against whom it brought claims on behalf of its clients. The complaint accused a corporation and three of its former officers of breach of contract and fraud in connection with their failure to repay amounts owing on a promissory note entered into with Gustafson Nicolai’s clients. The complaint also alleged alter ego liability, as the individual defendants failed to observe corporate formalities, failed to maintain adequate capitalization of the corporation, and commingled corporate and personal funds and used the proceeds from the money invested pursuant to the promissory note for personal uses and side business ventures. Pursuant to the settlement with these defendants, Gustafson Nicolai achieved a substantial recovery of money on behalf of its clients, a stipulated ex parte judgment against one of the defendants in the event of default, and a possessory interest in ATM machines and other personal property owned by one of the defendants in the event of default.
Gustafson Nicolai’s attorneys have litigated numerous business disputes, prosecuting and defending such claims. If you have been the victim of fraud or a breach of contract, we will work hard to make you whole. Likewise, if you have been wrongfully accused in a business dispute, we will provide a rigorous defense that protects your reputation and makes good business sense.
Uploaded by Adam C. Nicolai, esq.
May 10, 2015