Firm Prevails in a $18 Million Breach of Contract Claim Brought by Subsidiaries of a $1.4 Billion Japanese Conglomerate.
Los Angeles, CA — May 2010
Lee Tran & Liang APLC (“LTL”) prevails in a breach of contract claim brought by subsidiaries of a $1.4 Billion Japanese conglomerate. Firm partners defended Data Exchange Corporation against an $18 million breach of contract claim brought by Funai Corporation, Inc. and Funai Service Corporation (both wholly owned subsidiaries of Funai Electric Co., LTD, a publicly-traded Japanese conglomerate). The international arbitration was argued before a three arbitrator panel of the American Arbitration Association.
After substituting in for a well-known law firm, just three months before the scheduled arbitration hearings, LTL vigorously prepared the case. Preparations included the review of over 1,000,000 pages of documents—at least half of which were in Japanese.
After six hearing days, the arbitration panel found in favor of LTL’s client finding that FUNAI’s “termination of the Agreement was…a termination without cause…” Under the terms of the panel’s findings and award, FUNAI will ultimately walk away with NO net monetary damages. Indeed, depending on the outcome of several other cases pending in other jurisdictions—for which FUNAI is required to fully indemnify LTL’s client—FUNAI could end up paying well over a million dollars to LTL’s client.
“This victory is yet another example of our commitment to achieving quantifiable results for our clients,” said James Lee, partner, “and we will continue to focus on this commitment.”
About Lee Tran & Liang APLC
Lee Tran & Liang (“LTL”) is a Los Angeles based law firm focusing exclusively on business and intellectual property litigation. The firm’s partners have practiced at prominent multi-national firms, and are graduates of top law schools including Harvard, Stanford, and Columbia. Primary practice areas include business disputes (breach of contract, aggrieved investors and professionals, and commercial disputes) and intellectual property litigation (patents, trademarks, copyrights, and trade secrets). What sets the firm apart is its ability to offer creative fee arrangements to meet its clients’ needs. The firm specializes in what it calls “1-to-10” cases – $1 Million to $10 Million business contingency matters. In appropriate cases, clients pay no legal fees unless either a verdict of settlement is reached. This is the LTL difference.