Three immigrant families started a lighting business and achieved significant success over the years. In 2005, one of the families decided to sell its share of the business, by then grown to include operations and real property in California and China. The two remaining families operated the business without problems until one sought to force the other to sell its share of the business at a steep discount. When the unsolicited offer was rejected, the offeror locked the other family out of the business.
The locked-out family hired TVA to regain access. TVA obtained a TRO (temporary restraining order) and injunction allowing the clients to resume their roles in the company and reinstating their salaries. Even after this victory, the other family refused to abide by the order and the court eventually conducted lengthy contempt proceedings. Rather than risk going to jail, the other family quadrupled its earlier offer to TVA’s client and the matter was settled.
UCC Article 2 (Sales) Dispute
A Los Angeles-based advertising firm contracted with a specialized printer to produce Supergraphics film for the exterior of a building as part of a national advertising campaign. The film was delivered late and failed to meet the written specifications, resulting in cancellation of the advertising contract. The supplier then sued the client to collect on the contract, despite its default. By chance, Mr. Vogele had experience with the materials and the printing process in one of his former businesses. With his unique expertise and knowledge of Article Two of the Uniform Commercial Code, Mr. Vogele quickly resolved the dispute in favor of the client.
“High Stakes” Negotiation
After a 60 year-old commercial tire recapping business in Los Angeles fell on hard times due to a series of management blunders, a declining market and bad luck, it turned to TVA to try and avoid bankruptcy and involuntary liquidation. The company owed in excess of $2 million to its largest creditor, a huge international company, and to make matters worse, the owners had personally guaranteed the debt. TVA negotiated a settlement and full release of the owners’ personal guarantees for $25,000 – only 1.25% of the total amount owed. The business was then able to sell its remaining assets for the benefit of the owners who had worked a lifetime in the business and wished to retire.