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Betty, entered into a "Joint and Mutual Release". Among other
things, that document recites: "Bradish holds a forty percent
(40%) interest in the joint venture in trust for the children of
Larry and Betty Parker". Among amendments made to the joint
venture agreement, (1) Thoner was given exclusive management
control over most aspects of the joint venture, (2) an additional
joint venture partner, Donald G. Murray, Jr. (Murray), was
admitted to the joint venture, with an interest in profits and
losses of 10 percent, and (3) Bradish's interest was reduced to
40 percent.
By the end of 1980, disagreements had arisen between Murray,
who was on-site manager for the joint venture, and Parker.
Thoner and Murray determined to buy out Bradish. Murray
undertook negotiations with Parker concerning that buyout.
Bradish and Parker also began negotiating concerning the division
of the proceeds to be received by Bradish. Among other things,
Bradish and Parker disagreed concerning the consequence of the
previous reduction in Bradish's interest in the joint venture
from 50 percent to 40 percent. Bradish argued that he should
receive a share of the proceeds to be received equal to what he
would have received had the Bradish interest not been reduced
from 50 percent to 40 percent. To end their disagreements,
Bradish and Parker agreed to engage an arbitrator. An agreement
to arbitrate (the arbitration agreement) was executed on
January 4, 1981. The arbitration agreement states that Bradish
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