Entering a business arrangement with another party in Florida or elsewhere can be an exciting endeavor, but it may also come with a certain level of risk. Should either party fail to uphold its end of the arrangement, the fallout could have a detrimental impact on the future of the other company. Stillhouse, LLC, has recently filed a breach of contract lawsuit against Bacardi Limited, accusing the company of attempting to achieve a lesser buy out costs through fraudulent means.
According to reports, Stillhouse asserts that it initially reached a business arrangement in which it would provide Bacardi with inside access to company operations. The company claims that in exchange for this access, Bacardi had agreed to eventually buy out the company at a competitive price and bring it in house. However, Stillhouse representatives claim that the other party was misleading about its intentions and instead sought to bring down the value of the company for personal gain.
Stillhouse says that the other party failed to comply with its end of the agreement and states that the situation has left it facing severe monetary hardships and tarnished its image. The company asserts that Bacardi has attempted to use this to its advantage so it could buy out the other party’s interests at a lesser amount. Stillhouse has since filed a lawsuit against Bacardi accusing it of breach of contract and fraud.
Business owners who encounter disputes over an alleged breach of contract may wish to take steps to protect the future of their companies, but they might be uncertain how to achieve this goal. When facing a similar scenario, a person in Florida could benefit from speaking with an attorney early on for guidance on each of his or her available options. An attorney can work with a client in forming a strategy to protect his or her business interests and provide guidance on how to safeguard against similar concerns in the future.