Broward County Courthouse in Fort Lauderdale, FL.

Court Rules in Favor of Tellza Holdings in Parent-Company Subsidiary Battle

"In doing these deals, it would be helpful to consult litigation counsel early on to ensure the language will stand up in court in the event of a dispute. Judges have to stick with the language of the contract, and it appears that is what the judge did here" said Dwayne Robinson, a partner at Kozyak Tropin & Throckmorton, who is not involved in the case

September 25, 2024 at 05:10 PM

4 minute read

Litigation

By Tommaso Baronio

What You Need to Know

The court ruled that the sale of Tellza Holdings did not violate the Operating Agreement, MIPA, or Right of First Refusal (ROFR)
"A parent company, in this case, Florida Tellza Inc., is not bound by an agreement signed by its subsidiary, in this case, the ROFR to which Tellza Holdings was beholden,

A circuit judge in Broward County issued a final judgment on count one in favor of the defendant in the case Rightway Group vs. Tellza Holding.

NOT FOR REPRINT