Substantial Collection Matters

Represented the owner of a refinery in a suit for breach of a Purchase and Sale Agreement. The client sold the refinery for cash and a $4.5 million promissory note. The defendant defaulted on the note. Mr. Kelly secured a judgment on the Note, plus 18% contract default interest. The client ultimately foreclosed on the refinery.

Represented a drilling equipment rental company which had leased millions of dollars of equipment to a Panamanian corporation for drilling ventures in Colombia. The Panamanian corporation defaulted on the lease obligations and attempted to sell the client’s leased equipment to a third party. Mr. Kelly secured a settlement with the Panamanian corporation for a default lease payment of $360,000 and the return of the leased equipment to the client’s facilities in Amelia, Louisiana.