Jury Snuffs Gencor Suit Over $72M Ingersoll Deal

Law360, New York (February 14, 2011, 8:20 PM EST) -- A federal jury has rejected Gencor Industries Inc.’s claim that Ingersoll-Rand Co. Ltd. owes tens of millions of dollars in contract damages over the $72 million sale of its processing equipment unit in 1996.

The jury verdict, entered Friday in the U.S. District Court for the Southern District of New York, represented a sweeping win for Ingersoll-Rand against allegations it caused Gencor to lose vast sums when it sold a foundering animal feed joint venture, which had belonged to the processing equipment unit, to a state-owned...
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