Practice Area: Business
Outcome: Stipulation for Judgment
Description: Teaspots was a tea shop business that folded during the recession. They were being sued for over $100,000 for breach of lease. While the company had virtually no assets, there was a decided risk that the landlord would attempt to pierce the corporate veil and go after the shareholders/proprietors home. The solution was to work informally with the landlord's attorney to present all the financial information that would convice them of this fact. We eventually opted for a stipulation for judgment as the most cost-effective way to handle the situation, both sides knowing that the judgment was unenforceable.