Tonkon Torp Completes Successful Arbitration for Owners of Closely Held Business
In December 2015, Tonkon Torp closed a swift and successful arbitration to enforce payment owed to its clients, family members who founded and grew a successful business in the Northwest. In 2012, the clients had worked with Tonkon Torp to sell the company to a large, billion-dollar national entity. However, when the final payment came due in 2015, the buyer refused to honor its obligations. Tonkon Torp promptly filed an arbitration proceeding as required by the sale agreement.
The arbitration was led by litigator Caroline Harris Crowne
and included support from Tonkon lawyers Sarah Einowski
and Alex Tinker
, all members of the firm's Contract and Commercial Disputes practice.
During a three-day arbitration hearing, Caroline defeated all the opposition’s justifications for not paying, which included issues involving indemnities and accounting. The entire process was concluded in about half a year with a multi-million dollar award for the client.
View All Case Studies