The plaintiffs in Brace Industrial Contracting v. Peterson Enterprises (Del. Ch. Dec. 10, 2015) moved for partial summary judgment on the issue of whether the defendants could “self-help themselves to $3.457 million of the plaintiffs’ money as an offset against different purported unliquidated claims.”
The plaintiffs contended the defendants retained nearly $3.5 million in payments from the plaintiffs’ customers as an offset against claims the defendants asserted against the plaintiffs. The court found that it was not clear that the full claim amount was owed to the plaintiffs and that such issue should be decided following the impending trial. The court, however, did order the defendants to pay, and the plaintiffs to accept payment of, the amount the defendants conceded the plaintiffs were owed.
Analysis
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