The King County Superior Court in the case of Carey et al. v. Bumstead et al. issued a decision in favor of the Defendants, Matt and Kristie Bumstead and their company, Clarity Capital, on September 5, 2017. Carey and Bumstead’s dispute was over the proper way to divide up assets in a joint venture they had operated since 2009. Carey had been seeking over $600,000 from the Defendants. Citing evidence spelled out by our own Justin Park, who represented the Bumsteads, the Court issued a decision in favor of the Bumsteads, dismissing with prejudice Carey’s claims, and directed a money judgment be entered in the Bumsteads’ favor.
Said Park, “We are extremely satisfied with the judge’s decision. We have always felt that the legal analysis and evidence in the matter justified a decision in favor of the Bumsteads. Now we are glad to see the Court agrees with that position.”
This case highlighted the need of joint participants in a business venture to have a good operating document with buy-sell provisions. Should you wish to discuss how these needs can be met regarding your business, please give us a call today!