Wal-Mart Vendor Fails To Nix $24M Offset Over Venture

Law360, New York (March 29, 2010, 1:32 PM EDT) -- A Wal-Mart Stores Inc. vendor has failed to overturn a trial court’s decision to offset a $12.8 million judgment against Pou Chen Corp. with $24 million in damages still owed to Pou Chen in connection with a soured joint venture agreement.

In an opinion published Friday the California Court of Appeals, Second District, Division Two, rejected vendor MTS Products’ bid to scrap the offset order and give contractual liens held on MTS’ $12 million judgment priority over the $24 million awarded to Pou Chen.

The appeals...
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