In Re Flight Shares, LLC, et al. v. Southern Theatres Family Holdings, LLC, et al.
The firm earned a major victory in a week long commercial arbitration involving a dispute between a New Orleans developer and several Mississippi individuals and businesses over the ownership and operation of a jet airplane.
A Mississippi arbitrator found clear and convincing evidence that the developer had been fraudulently induced into entering a contract to purchase the aircraft and granted full rescission of the sale, as well as various related leases, operating agreements, and guarantees. The arbitrator awarded the developer several hundred thousand dollars in rescissionary damages and attorney’s fees.
Prior to the award, the Mississippi parties had filed four lawsuits seeking more than $1 million in damages based on various contracts related to the plane. The firm successfully compelled these cases to arbitration, and the arbitrator rejected all their claims.
Stephen H. Kupperman represented Southern Theatres.