When companies fail to abide by the terms of a contract, a business dispute could arise, resulting in a lawsuit. There are many things to consider with regard to business litigation in Fort Lauderdale and throughout Florida, whether a company files suit over an intellectual property dispute, deceptive trade practices, breach of fiduciary duty or another issue. For example, if one of the parties is headquartered in another country, there could be additional considerations that come with international business disputes. When it comes to business litigation, taking the right approach is essential.
In 2013, a Texas fertilizer plant exploded, claiming the lives of 15 people and causing at least $53 million worth of damage to school buildings in the area. According to the school district, they have not received a fair amount of compensation from their insurance company and a subsidiary. The school district filed suit against the two companies, claiming they breached contracts and were in violation of state insurance standards.
The Federal Emergency Management Agency gave the school district more than $20 million to assist in the reconstruction of school buildings, which is currently taking place. It is estimated that the total cost of building a new middle school and high school will be $50 million to $60 million.
Companies dealing with litigation should make sure they thoroughly prepare and research their situation comprehensively. Also, when it comes to the legal process, many businesses benefit from an individualized approach since the details surrounding each case often vary significantly. Although the complexities of business law may seem intimidating to some people, an attorney could be able to provide valuable assistance and help a company move forward.
Source: WacoTrib.com, “West ISD lawsuit alleges breach of contract against insurance carrier,” Tommy Witherspoon, May 22, 2014