Solo Cup

Overview The lawsuit between entirely Cup Company (only) and Trigen-Cinergy Solutions (Trigen) arose out of an Energy run Agreement and Equipment rent that fell entered into with Trigen to construct an 11.2-megawatt electricity co-generation plant at the Owings Mills facility. just 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 paying back by exclusively over 20 grades. After Solo did analyses on the project, they observe they would actually be losing money in the first division of the contract, and took action to sever the contract. Arbitration then took place to evidence 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 incorrectly booked for Solo Cup Company. To first belowstand the background of the situat ion, below is a summary of key events for your reference. Timeline of Key Events 2/13/03 Solo entered into a 15 year Equipment subscribe Agreement and a 20 year Energy serve 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 competency savings prepaid by Trigen. January 2005 Solo notified Trigen of disputes after initiation dissatisfied that savings were not being realized. 3/21/05 Solo filed a demand for arbitration seeking recission of t he Energy Services Agreement and compensator! y damages plus lawyers fees, costs and interest. The claims were based on allegations of fraud, misrepresentation, promissory estoppel, cheating(prenominal) 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 lawyers fees, costs, all other amounts that become due under the Energy Services...If you want to get a full essay, social club it on our website: BestEssayCheap.com

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