Our office represented a defendant shareholder of a Colorado company that manufactured specialty toys. Our client’s fellow investor sued him in Middlesex Superior Court for monies owed as a result of a default judgment and execution issued against him in Colorado. He was not represented by counsel at the time the default judgment and execution issued; and the execution resulted in the attachment of real property our client mistakenly believed was not in his name.
The case was resolved by negotiating with the plaintiff shareholder as to the value of our client’s majority interest in the company’s stock. Negotiations led to a stock transfer to the plaintiff/shareholder valued in the six-figures and the unencumberance of our client’s real property valued in the seven-figures.