Trovare Capital Group, LLC v. Simkins Indus., Inc., et al., No. 10-2778 (7th Cir. 2011)
Annotate this CasePlaintiff sued to recover a "break-up fee" it claimed was owed to it under the letter of intent the parties executed in relation to a negotiated sale of defendants' assets and real estate properties. At issue was whether the district court properly granted summary judgment in favor of defendants, holding that no break-up fee obligation had been triggered. The court held that there were genuine issues of material fact as to whether actual negotiations had terminated and therefore, the court reversed the order of summary judgment and remanded the case for further proceedings.
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