August 14, 2017
A Delaware federal judge on Monday dismissed a suit over nearly $60 million placed in escrow for environmental liabilities during the sale of a car upholstery company, saying that the contract was unambiguous and the buyer, Lear Corp., has fulfilled all the criteria to keep it there as the U.S. Environmental Protection Agency works on a remediation project.
February 22, 2017
Auto parts company Lear Corp. urged a Delaware federal judge Wednesday to throw out a lawsuit from ESG Holdings LLC, which claims Lear is holding up the $60 million environmental escrow fund from its purchase of a car seat maker from ESG in 2014, arguing ESG is misreading the deal.
October 19, 2016
A company that sold a leather car seat manufacturer to auto parts supplier Lear Corp. urged a Delaware federal judge on Tuesday not to toss its lawsuit seeking to block Lear's claim to a $59.5 million environmental escrow fund, saying the company failed to meet its contractual obligations.
October 05, 2016
Auto parts supplier Lear Corp. asked a Delaware federal judge on Tuesday to toss a lawsuit over the company's claim to a $59.5 million environmental escrow fund established when it purchased a car seat business, saying the case is based on a "gotcha argument."
August 23, 2016
A Wisconsin family who sold their leather-car-seat business to Lear Corp. is now suing the auto parts supplier in Delaware federal court to void an allegedly bad faith claim on a $59.5 million environmental escrow fund set up during the acquisition.