In a recent development, a legal battle involving J.P. Carey Limited Partners L.P. and Third Bench Inc. has come to a mutual conclusion without proceeding through a full trial. The group had initially brought forward a lawsuit alleging that loan defaults by the countertop and cabinet-maker overseer resulted in $1.5 million in damages. The legal claims were directed at a member of the holding company, David Fair, as well as other parties including David Rees, a disbarred attorney, and his girlfriend.
The allegations centered around the concealment of Rees’ involvement in Third Bench Inc., which J.P. Carey Limited Partners claimed was deliberately hidden. These claims, however, have now been mutually agreed upon to be dismissed. Both parties involved, including Fair, have decided to let go of all accusations, claims, and any potential counterclaims.
This decision was submitted to Magistrate Judge Kirtan Khalsa at the US District Court for the District of New Mexico. The stipulation to drop the charges indicates a resolve to settle the matter without further court proceedings. For further details, you can read the full article on Bloomberg Law.