Fast and Efficient Settlement of a Hotly Contested Business Dispute
Ginise v. White Oak Partners, LLC.
2015. Franklin County Ohio Court of Common Pleas, Case No. 15 CV004034
In January 2015, Russell Ginise
resigned as president of White Oak Partners, LLC, a closely held company
engaged in the acquisition, ownership and operation of multi-family investment
properties. At the time of his resignation, Mr. Ginise was one of the owners of
White Oak Partners, and his resignation triggered buyout provisions at fair
market value. A dispute arose as to the fair market value of his units and the
parties were far apart in their respective assessments of the fair market value
of Mr. Ginise’s units. In May 2015, Mr. Hill filed suit on behalf of Mr.
Ginise in the Franklin County Court of Common Pleas. The matter was hotly
contested at the outset, but by November 2015, before any substantial discovery
had been undertaken (and with the cooperation of able opposing counsel), the
parties reached a settlement on terms that eliminated any risk as to the
outcome, eliminated the anticipated substantial costs of litigation for both
parties, and that Mr. Ginise found very satisfactory. Mr. Ginise’s
thoughts about the case and its outcome can be seen under Endorsements.