WTO wins trial verdict in shareholder dispute
Trimark Construction v. Ogden
(Colo. Douglas Cnty. Dist. Ct. 2016)
WTO lawyers won a trial verdict for a family-owned business and several shareholders in an ownership dispute culminating in a three-day trial.
In a divorce case, the former husband of one of the shareholders claimed that he was a part owner of the company. He argued that certain parcels of real estate paid for by the company and titled in his or his ex-wife’s name were marital property, and that various other parcels of real estate titled in the names of various family members were actually owned by the company.
WTO’s clients sought a declaratory judgment that the former husband had no interest in the company, that the alleged marital properties were company properties, and that the properties titled in the names of family members were not company properties. The former husband filed a dozen counterclaims including claims for fraud, conspiracy, breach of contract, promissory estoppel, and quantum meruit.
Ultimately, WTO convinced the Court that the corporate ownership shown with the Colorado Secretary of State was not the true ownership of the company. The Court concluded that the former husband was not a shareholder in the company, dismissed all of his counterclaims, allocated the properties almost completely in accordance with our client’s position, and awarded attorneys’ fees relating to various lis pendens disputes and its costs.