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
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.
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