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DISCLAIMER: Please note that every case is different and these verdicts and settlements, while accurate, do not represent what we may obtain for you in your case.
Managing Partner Comes Out on Short End in Funds Dispute
The parties entered a joint venture on a construction project. When the project was completed, retainages (payments withheld by the governmental body for which the work was done) totaled almost $8M, and the managing partner claimed it was entitled to the bulk of that sum, and our client was due only $1.5M. Our client directed us to sue.
The court appointed a commissioner to hear evidence and make a report. The evidence we gathered revealed the managing partner had mismanaged the accounts and failed to give proper credits to the client. The commissioner awarded our client most of the retainage, and the managing partner, less than half of what it claimed it was due.
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