Confidential
Settlement – $0Mediator
Court
Ventura Superior
Attorneys
Plaintiff
Defendant
Facts
Plaintiffs were owners of a service station business in Ventura. The plaintiffs sold the business to defendant pursuant to a contract and leased him the station property. After non-payment by defendant of gasoline storage fees allegedly due to plaintiffs, they brought this action for declaratory relief. The plaintiffs contended that defendant had not made various payments which the lease required. Per plaintiffs, defendant contended that the lease did not call for the payments which plaintiffs contended were due.
Settlement Discussions
The plaintiffs' opening offer was to repurchase the business and lease for a net payment of $22,000 cash to defendant, and to dismiss the lawsuit and execute mutual general releases. The defendant's opening offer was to sell the business and lease back to plaintiffs for a net payment of $190,000, if plaintiffs would dismiss the lawsuit and execute mutual general releases.
Other Information
The settlement was reached approximately 10 months after the case was filed. MEDIATION: A mediation was held on Feb. 25, 1998, before Jeffrey G. Kichaven resulting in the reported settlement.
Length
four hours (Mediation)
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