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Johnson & Associates has recently obtained a $1,133,408.39 judgment on behalf of one of their clients the owner of a California company against the Mexican company Speco Wind Power, a subsidiary Speco, LTD, a Korean company.
The case alleged a breach of an Engineering Consulting Agreement which provided that the client would design asphalt plants for Speco and was to be paid $10,000 per month and 3% of the gross sales of each asphalt plant, parts or components sold. The term of the Agreement was to be ten (10) years.
After the agreement had been ongoing for over three (3) years Speco sent the company a “Notice to Terminate Engineering Consulting Agreement” alleging that they had failed to fulfill the terms of the Agreement and that as a result Speco was terminating said Agreement. This termination occurred three (3) years and three (3) months into the ten (10) year contract term.
The company then hired Johnson & Associates to handle the case. Johnson & Associates thereafter sued Speco for the 81 months left on the agreement plus accrued interest as well as for attorneys fees and costs.
The case involved over 8,000 pages of exhibits and were presented using state of the art technology to graphically demonstrate the over three (3) years of dealings between the parties and the complex designs of the asphalt plants.
The suit resulted in a unanimous finding in favor of the company whereby damages were awarded in the amount of $1,133,408.39, which included all of the unpaid consulting fees, interest from the date of the breach at the rate of 10% plus all attorney’s fees and costs incurred in the litigation.
This case was featured in the Verdicts & Settlement of the Los Angeles Daily Journal in May of this year.
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