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Florida auto dealership sued after cancelling $72 million deal

On Behalf of | Jul 8, 2014 | Business Litigation |

Whether a business is facing litigation over international business disputes with a foreign company or is heading to court due to an issue that arose locally, these matters can be complicated and stressful, especially when the right steps are not taken. As a result, for any business in Fort Lauderdale, Florida, it is imperative to understand the ins and outs of the case before moving forward.

An auto retailer from Houston recently filed a lawsuit against an auto dealership centered in North Miami Beach after the dealership allegedly called off a $72 million deal. Under the terms of the deal, the car dealership would have been sold to the Texas auto retailer, along with property that is close by.

In their suit, which was filed nine days after they gave the dealership a demand letter, the auto retailer is aiming to complete the sale. The publicly-traded company currently owns over 150 dealerships and 190 franchises in the U.S., U.K. and Brazil. A representative for the auto retailer claims that the company has successfully closed on more than 50 to 60 transactions and has never had to file suit against a seller.

Business litigation can arise for numerous reasons, from deceptive trade practices to breach of contract, fraud or an intellectual property dispute. Regardless of the reasons behind business disputes, companies in this position should do everything they can to work towards a positive outcome, which may include talking to an attorney. When the right approach is taken, stress can be minimized and legal complications can be prevented.

Source: Miami Herald, “Prestige Imports of North Miami Beach faces a lawsuit over the sale of its Top-10 Audi dealership,” Ina Paiva Cordle, June 23, 2014


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