Secret Franchise Stock Sale Fuels Partnership Dispute

Law360, Dallas (September 16, 2013, 9:54 PM EDT) -- Ravenwood Holdings LLC sued its partner in a restaurant franchise business Friday in Texas state court, claiming OTC Holdings LLC breached an agreement by selling off shares of the chain without telling Ravenwood and pocketing all proceeds from the sale.

Ravenwood says it collaborated with OTC Holdings to form on April 26 OTC Capital Partners LLC, a Colorado-based partnership that jointly owned stock for fast-casual restaurant franchise Grillit Inc., in anticipation of its acquisition on April 30 of an existing restaurant company called Health and Tasty...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.