Solo Cup

Overview The lawsuit between solo Cup Company (only) and Trigen-Cinergy Solutions (Trigen) arose out of an Energy run Agreement and Equipment rent that pilot entered into with Trigen to construct an 11.2-megawatt electricity co-generation plant at the Owings Mills facility. simply was below the impression that by entering into this agreement, they would save at least $820,000 in aptitude costs annually, which was to be pre stipendiary magistrate by Trigen and eventually remunerative back by fly over 20 grades. After Solo did analyses on the project, they observe they would actually be losing money in the first course of the contract, and took action to sever the contract. Arbitration then took place to discover damages to the rightful party. After extensive review of the given(p) facts in this dispute, it has come to my attention that the loss contingency is wrongly booked for Solo Cup Company. To first belowstand the oscilloscope of the situation, below is a summary of key events for your reference. Timeline of Key Events 2/13/03 Solo entered into a 15 year Equipment read Agreement and a 20 year Energy run Agreement with Trigen Energy Services to construct a co-generation facility.

11/01/04 Trigen issued a Letter of Substantial Completion to Solo and paid out $820,000, which represented the first years push savings prepaid by Trigen. January 2005 Solo notified Trigen of disputes after world dissatisfied that savings were not being realized. 3/21/05 Solo filed a demand for arbitration seeking rescission of the Energy Services Agre ement and compensatory damages plus lawye! rs fees, costs and interest. The claims were based on allegations of fraud, misrepresentation, promissory estoppel, unsporting enrichment, and breach of contract. March 2005 Solo offered to settle for $3,106,972. 4/11/05 Trigen filed an answer and counterclaim seeking an award plus attorneys fees, costs, all other amounts that become due under the Energy Services...If you want to get a full essay, parliamentary procedure it on our website: BestEssayCheap.com

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