Transactional and Litigation Strategy Results in Favorable Settlement

August, 2023

The Schafer and Weiner team of Joseph K. Grekin and John Stockdale, Jr. represented a US distributor of German prosthetics and its sole member. When the distributor suffered financial distress, Schafer and Weiner developed a strategy to wind down the company and return the remaining inventory to the German supplier. When out-of-court negotiations broke down, the German supplier sued the US distributor and the sole member in Oakland County Circuit Court seeking in excess of $300,000. In litigation, Schafer and Weiner successfully leveraged the legal wind-down of the business to a favorable settlement requiring the defunct US distributor to pay only $15,500 over time.