Solo Cup

Overview The lawsuit between lonesome(prenominal) Cup Company (only) and Trigen-Cinergy Solutions (Trigen) arose out of an Energy run Agreement and Equipment rent that vaporise entered into with Trigen to construct an 11.2-megawatt electricity co-generation plant at the Owings Mills facility. unaccompanied 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 salaried by Trigen and eventually nonrecreational back by alone over 20 grades. After Solo did analyses on the project, they ascertained they would actually be losing money in the first course of study of the contract, and took action to sever the contract. Arbitration then took place to demo damages to the rightful party. After extensive review of the apt 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 oscillos cope 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 contain 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 cleverness savings prepaid by Trigen. January 2005 Solo notified Trigen of disputes after humanity dissatisfied that savings were not being realized. 3/21/05 Solo filed a demand for arbitration seeking recission of the Energy Services Agreement and compensatory damages plus lawyers fees, costs and interest. The claims were based on allegations of fraud, misrepresentation, promissory estoppel, foul 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 att orneys fees, costs, all other amounts that b! ecome due under the Energy Services...If you want to get a full essay, club it on our website: BestEssayCheap.com

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