27Mar/080
Breach of Contract – $4,900,000 Arbitration Award
The attorneys at Venardi Elam LLP obtained a $4,900,000 arbitration award for a company that supplies parts and services for a radar reconnaissance and surveillance system sold by a United States company to foreign governments. The client had an exclusive license to supply the parts and service the systems. The defendant terminated the license agreement without cause because it considered the terms unfavorable. The law firm prevailed after a three-week arbitration and obtained a $4,900,000 lost profits award for the client.