USA: Boston Restaurant Associates, Inc. settles arbitration proceedings
In December, 1998, Boston Restaurant Associates, Inc. formed a joint venture with Italian Ventures. The relationship fell apart shortly after the formation of the joint venture and the Company became involved in legal proceedings with Italian Ventures. On May 10, 2001, the parties completed negotiations on and entered into a settlement agreement resolving their disputes. Under the terms of the agreement, Italian Ventures is entitled to receive from the Company in exchange for any and all ownership interest held by Italian Ventures a royalty equal to seven-tenths of one percent of the monthly gross sales of each Polcari's Bistro for a period of seven years commencing on May 1, 2001 and ending April 30, 2008. However, the cumulative sum shall not exceed $1,700,000 during this period.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Comment: Premier has more to ponder than Brexit
- Trump seen as negative for global food trade
- 2017: food policy hotspots in the UK, EU and US
- Analysis: B&G Foods balancing growth and decline
- The food market in 2017 - consumer trends and M&A
- Weetabix takeover talk gathers pace
- Unilever rebrands I Can't Believe It's Not Butter
- Nestle mum on Mead Johnson takeover talk
- Boparan confirms interest in Fox's Biscuits
- Update - Pladis not bidding for Weetabix