CDQ Obtains Favorable Result for Client in MIPA Dispute
CDQ attorneys Daniel P. Quigley and Kevin C. Moyer represented an entity that had entered a membership interest purchase agreement (“MIPA”) to purchase the majority interest of an Arizona limited liability company, which owns a valuable business license. After entering the agreement and accepting consideration thereunder, the majority interest holder (the “Seller”) developed remorse and attempted to renege on the MIPA. CDQ’s client (the “Buyer”) initiated an arbitration to enforce the parties’ agreement.
While the arbitration was pending, the Seller sought to avoid arbitration by filing suit in Maricopa County Superior Court. As a result of CDQ’s efforts, the Seller’s Motion to Stay the arbitration was denied, resulting in prompt dismissal of that action. As the arbitration hearing approached, CDQ assisted its client in obtaining a successful resolution, involving CDQ’s client obtaining all of Seller’s interest in the Arizona limited liability company at issue for less consideration than had been offered before the commencement of the arbitration.