June 10, 2021
On June 8, 2021, Schlam Stone & Dolan LLP partner Jeffrey M. Eilender and counsel Joshua Wurtzel secured a major victory in Arizona federal court to enforce a term sheet requiring defendants to pay $2.5 million. Following a long-running dispute that involved Schlam Stone previously securing a criminal and civil contempt order and an arrest warrant against a related adversary, in January 2020, the parties held a mediation and signed a binding term sheet to resolve their outstanding disputes. The term sheet required the defendants to pay $2.5 million to Schlam Stone’s client, but the defendants refused to pay, and Schlam Stone brought suit to enforce the term sheet. Following cross summary-judgment motions, the Arizona federal court accepted Schlam Stone’s arguments that the term sheet was binding and enforceable against all of its signatories, and granted summary judgment to Schlam Stone’s client. This was a major victory for Schlam Stone and its client, and marks the close of a long-running and hard-fought legal battle in three states and two countries.